Thai equities market might maintain its momentum on Thursday
The Thai stock market continued its upward trend on Thursday, extending its gains for a fourth consecutive session. The SET Index closed at 1,277.43 points, up 1.46%, amid increased trading activity.
The current outlook for the Thai stock market is cautiously optimistic, driven by an anticipated Federal Reserve rate cut and Thailand’s own recent interest rate cut by the Monetary Policy Committee from 1.75% to 1.50%. This supportive monetary environment is particularly positive for sectors like finance, power plants, and dividend-paying stocks.
For Asian markets, the positive sentiment from lower U.S. inflation data is fueling prospects of Fed rate cuts, which is boosting Asian equities overall. This is supporting capital inflows into emerging markets, including Thailand. However, uncertainties remain tied to U.S. trade policies affecting Asia’s competitiveness and manufacturing outlook.
In the technology sector, the TECH sector in Thailand remains the top performer over one-year and five-year horizons, despite sector-wide volatility and a recent decrease in valuations across all sectors in Q2 2025. Sector risk has declined, indicating reduced volatility risk, but global uncertainties continue to impact market sentiment. Despite a slowdown in overall corporate financial performance expected in the second half of 2025, tech companies have shown resilience and outperformance relative to other sectors.
Some specific Thai stocks that saw gains on Wednesday include Advanced Info, Thailand Airport, Asset World, Banpu, Bangkok Bank, Bangkok Dusit Medical, Bangkok Expressway, B. Grimm, BTS Group, CP All Public, Energy Absolute, Gulf, Kasikornbank, Krung Thai Bank, Krung Thai Card, PTT, PTT Exploration and Production, PTT Global Chemical, SCG Packaging, Siam Commercial Bank, Siam Concrete, Thai Oil, True Corporation, TTB Bank, Charoen Pokphand Foods, and PTT Oil & Retail.
Elsewhere, the lead from Wall Street is positive, with the major averages opening mixed but quickly turning higher and spending the rest of the session in the green. The global markets are expected to be optimistic about earnings, with tech shares likely to lead the way higher.
Notable earnings reports include Shopify (SHOP) beating the street in its earnings, McDonald’s (MCD) reporting second quarter results that exceeded estimates on both the top and bottom lines, and Apple (AAPL) announcing plans to invest $100 billion to expand its U.S. operations, raising its total investment in the U.S. over the next four years to $600 billion. However, Disney (DIS) and Super Micro Computer (SMCI) reported mixed third quarter results.
In other news, crude oil lost early gains on Wednesday due to potential U.S. sanctions on Russia's oil exports after August 8, with West Texas Intermediate crude for September delivery down $0.96 or 1.47 percent at $64.20 per barrel.
Investors are advised to monitor upcoming economic data points, U.S. trade policies, and corporate earnings reports for further directional cues. The volume of shares traded on Wednesday was 11.201 billion shares worth 65.232 billion baht. The Stock Exchange of Thailand is currently at 1,264.47 points.
The technology sector in Thailand, despite experiencing volatility and decreased valuations in Q2 2025, remains a top performer over one-year and five-year horizons, benefiting from a supportive monetary environment and showing resilience even amid a projected slowdown in corporate financial performance in the second half of 2025.
However, global uncertainties continue to impact the technology sector, suggesting that investors should monitor upcoming economic data points, corporate earnings reports, and geopolitical events for directional cues.
