Thai Equities Seek Support After Three-Day Slide

The Stock Exchange of Thailand (SET) closed Friday at 1,456.10, marking a slight decline of 0.36% or 5.25 points. This follows a three-day losing streak where the index shed more than 25 points, representing a 1.8% drop, bringing the market to a critical support level just above the 1,455-point plateau. Market sentiment remains fragile but is expected to shift toward cautious optimism for the coming week. Traders are eyeing a potential rebound driven by a pullback in global crude oil prices and positive momentum from the US technology sector, which could offset recent losses in Thai finance and service stocks. Friday's trading saw a mixed performance across sectors. Gains in resource, property, and industrial companies were countered by weakness in finance and technology. Notable movers included SCG Packaging, which surged 3.47%, and Thai Oil, which spiked 2.81%. Conversely, True Corporation tumbled 2.17% and Bangkok Bank retreated 1.55%. Total trading volume reached 8.414 billion shares, valued at 48.768 billion baht. The outlook is bolstered by a strong showing from Wall Street, where the NASDAQ climbed 1.63% and the S&P 500 rose 0.80%, largely fueled by Intel's better-than-expected Q1 earnings and positive Q2 guidance. Additionally, geopolitical easing—including a three-week ceasefire extension between Israel and Lebanon and potential US-Iran diplomacy—has pushed West Texas Intermediate (WTI) crude down 1.75% to $94.17 per barrel.