Potential Break in Continuous Rise for Thai Stock Market
The global stock market saw a mixed performance on Tuesday, with some indices finishing higher while others declined. In the United States, the Dow Jones Industrial Average, NASDAQ, and S&P 500 all ended lower for the day.
Meanwhile, the Stock Exchange of Thailand (SET) finished modestly higher, with gains from the food, finance, industrial, resource, and service sectors. The SET is close to reaching the 1,250-point plateau, having risen in two consecutive sessions, adding more than 1 percent.
The U.S. Court of Appeals for the Federal Circuit recently ruled most of President Donald Trump's global tariffs as illegal. However, the ruling did not have a direct impact on the Thai stock market as of the time this article was written.
In August 2025, President Trump issued executive orders to impose new reciprocal tariffs on multiple countries, including a 25 percent tariff on Indian imports starting August 27, 2025.
The Institute for Supply Management released a report showing a slight increase in U.S. manufacturing activity in August, but the index still posted its sixth consecutive month of contraction.
Elsewhere, the renewed trade uncertainty caused an early sell-off on Wall Street. The lead from Wall Street is weak, with the major averages opening lower and remaining in the red throughout the day.
On the other hand, the oil market saw a significant rise, with West Texas Intermediate crude for October delivery up $1.51 or 2.36 percent at $65.52 per barrel. The rise in crude oil prices was due to concerns about supply disruptions, not any specific news related to the Thai stock market or the SET. The crude oil jump was primarily due to strikes on Russian energy sites by Ukraine.
In the Thai stock market, among the active stocks, Advanced Info rose 0.33 percent, Asset World tanked 2.59 percent, Banpu strengthened 2.07 percent, and many others experienced various percentage changes.
Treasury yields surged in reaction to the ruling on Trump's tariffs, due to concerns about potential government repayments of billions of dollars.
The global forecast for Asian markets remains negative due to renewed ambiguity surrounding U.S. tariff policies. The U.S. economic news does not directly affect the global forecast for Asian markets.
Overall, the global stock market showed a mixed performance, with some indices finishing higher while others declined. The Thai stock market, however, continued its upward trend, despite the uncertainties in the global market.
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