FX.co ★ Thai Bourse May See Profit Taking On Tuesday

The Thai stock market has experienced an upward trend over the last four sessions, gaining nearly 35 points or 2.8%. The Stock Exchange of Thailand (SET) currently stands above the 1,320-point mark, though it could see a slowdown on Tuesday.

The global outlook for Asian markets remains uncertain due to unclear prospects for interest rates. While European markets declined and U.S. markets showed mixed but flat activity, Asian markets are expected to follow suit.

On Monday, the SET saw modest gains across various sectors including food, consumer, finance, industrial, property, resource, service, and technology. The index rose by 10.51 points or 0.80%, closing at 1,322.50 after hitting a low of 1,311.05. Trading volume was recorded at 10.073 billion shares, with a total value of 31.377 billion baht. There were 311 gainers, 178 decliners, and 166 stocks that remained unchanged.

Noteworthy performances included Advanced Info, which increased by 1.43%, and Thailand Airport, up by 1.33%. Conversely, Asset World and Bangkok Dusit Medical saw declines of 0.55% and 0.93%, respectively. Other significant movements included Charoen Pokphand Foods with a rise of 3.39%, Energy Absolute falling by 3.65%, and PTT Oil & Retail jumping by 1.86%.

Wall Street provided little direction, as major averages opened higher but then fluctuated before closing mixed. The Dow Jones Industrial Average fell by 31.08 points or 0.08% to 39,344.79. The NASDAQ increased by 50.98 points or 0.28% to 18,403.74, and the S&P 500 added 5.66 points or 0.10% to close at 5,572.85—both setting record highs.

This inconsistency reflects uncertainty surrounding interest rate predictions ahead of key economic reports on consumer and producer prices. Market participants are also closely monitoring Federal Reserve Chair Jerome Powell's upcoming congressional testimony for insights into future interest rate policies.

Oil prices dipped on Monday following the shutdown of several export facilities near Houston due to Hurricane Beryl. West Texas Intermediate Crude futures for August decreased by $0.83 or 1%, settling at $82.33 per barrel.