Thai Equities Extend Slide as SET Index Struggles Above 1,290

The Stock Exchange of Thailand (SET) continued its downward trajectory on Thursday, marking the fourth straight session of declines. The index closed at 1,291.58, a loss of 6.50 points or 0.50%, as the market struggles to find a firm floor above the 1,290-point level. The broader slump has seen the index shed more than 35 points, or approximately 2.8%, over the last four trading days. This weakness is mirrored across several key sectors, including finance, property, technology, and resources, reflecting a cautious mood among investors as they weigh domestic data against global trends. Trading volume for the session reached 8.431 billion shares, valued at 34.178 billion baht. Market breadth was heavily skewed to the downside, with 340 decliners compared to 128 gainers. Among the most active tickers, Energy Absolute experienced a sharp correction, crashing 6.61%, while Banpu and Thai Oil fell 2.57% and 2.39% respectively. A few outliers provided support, with CP All and SCG Packaging both posting gains of 1.79%. The SET's performance was influenced by a mixed lead from U.S. markets, where the NASDAQ fell 0.93% despite data showing a sharper-than-expected acceleration in U.S. second-quarter GDP growth. In the commodities space, WTI crude futures rose to $78.28 per barrel, extending recent gains. Looking ahead, market participants in Thailand are focusing on the upcoming release of June figures for imports, exports, and the trade balance. In May, the country recorded a trade surplus of $660 million, with exports rising 7.2% and imports decreasing 1.7%.