Stock Markets Today: The SET Index Dips Amid Subdued Volumes and Ongoing Uncertainties
Thai Shares Experience Minor Decline in Activity Amidst Global Political Unease
Today, the SET Index closed slightly lower at 1,113.58, with trading volumes remaining lackluster due to the absence of fresh catalysts and persistent geopolitical concerns. Here's the lowdown:
Market Performance
The Thai stock market saw the SET Index fluctuating throughout the session, reaching an intraday high of 1,119.13 points and a low of 1,112.25 points. Total trading value amounted to a modest 27,494.32 million baht, indicating thin volume.
Top Gainers and Losers
Among the most actively traded shares by value, PTTEP closed at 110.00 baht, shedding 2.00 baht (1.79%). ADVANC remained unchanged at 282.00 baht, while AOT saw a gain, closing up 1.25 baht (4.59%) at 28.50 baht. KBANK rose 1.00 baht (0.66%) to 153.50 baht, and CPALL closed flat at 45.00 baht.
Underlying Factors
Geopolitical headwinds continue to impact investor sentiment, with on-going Middle East tensions and unresolved situations remaining a drain on the market. Despite reports of Iran's possible willingness to resume nuclear talks with the US, Israel's unyielding stance creates uncertainty for crude oil prices, which in turn weighed on the market today.
Domestic politics also play a significant role, specifically the ongoing cabinet reshuffle. Analysts believe a major overhaul could potentially undermine government stability, with parliamentary support possibly coalescing around 240-250 votes.
Market Outlook
Brokers and analysts anticipate the market will continue to trade within its current range, with a support level between 1,100-1,110 points and a resistance level at 1,130 points. Clear positive catalysts are required to build momentum and restore normal trading volumes. Key factors to monitor in the coming days include the US Federal Reserve's meeting on Wednesday night, further clarity on trade wars, developments in the Middle East, and progress on the domestic cabinet reshuffle.
- Tags: Thai stock, Thai stocks, Stock markets, SET, Thailand, economy
- Geopolitical concerns, such as ongoing Middle East tensions and Israel's stance, are impacting investor sentiment in the stock market, causing the SET Index to dip today.
- Domestic politics, particularly the ongoing cabinet reshuffle in Thailand, could potentially impact the stability of the government, which analysts are closely monitoring.
- Despite Iran's possible willingness to resume nuclear talks with the US, uncertainties remain about crude oil prices due to geopolitical headwinds, affecting the stock market.
- Analysts predict that the Thai stock market will continue to trade within its current range, with support at 1,100-1,110 points and resistance at 1,130 points, requiring clear positive catalysts to build momentum.
- In the coming days, key factors to consider include the US Federal Reserve's meeting, further clarity on trade wars, developments in the Middle East, and progress on the domestic cabinet reshuffle, which may influence the stock market.
