- Share prices on the Stock Exchange of Thailand dived on Tuesday on fears of a possible trade war after tariff hikes by the US administration.
- The SET Index plunged 42.30 points, or 3.76%, to 1,082.91 only minutes after the market opened.
- It ended the day down 50.62 points, or 4.5%, at 1,074.59.
- The Thai bourse opened after a three-day holiday, while other markets experienced jitters on Monday due to concerns about a possible recession because of US President Donald Trump’s policy.
- Foreign investors were net sellers of 2,47 billion baht worth of Thai shares on Tuesday.
- The SET said on Monday it would temporarily ban short selling of stocks and tighten other share trading rules to curb volatility as the fallout from the sweeping US tariffs roiled global markets.
- The curbs are meant to mitigate potential volatility and provide investors with an opportunity to assess their response to the US tariff barrage that has triggered a global market downturn, it said.
- Even before the Trump administration’s levy announcement, Thailand’s stock market was among the world’s worst performers this year as investors headed for the exit amid dwindling corporate profits and a dim outlook for the economy.
- The benchmark SET index lost 4.3% last week, extending losses this year to almost 20% and hitting a five-year low.
- The SET said it was confident the new measures would effectively stabilise market conditions and reinforce investor confidence.
Top 10 Key Insights into the Thai Stock Market
Even before the Trump administration’s levy announcement, Thailand’s stock market was among the world’s worst performers this year as investors headed for the exit amid dwindling corporate profits and a dim outlook for the economy.
