The Thai stock market continues to navigate through turbulent waters, as evidenced by the latest trading activities reported this past Friday, February 24, 2025. The SET Index has been showing minimal movement, moving sideways as investors react to varying economic indicators and corporate performances. Closing at 1,246.21 points, the market saw slight gains of 0.60 points or 0.05%. Despite the marginal increase, the week as a whole saw the index drop by 25.89 points, tallying up to a decrease of 2.03% when compared to the previous week.
Market dynamics were heavily influenced by selling tendencies among major stocks, particularly within the banking sector and significant declines seen from companies like DELTA, which pressured the overall index performance. Meanwhile, the energy stock GULF managed to rally some support, counterbalancing some of the selling pressure due to proactive buybacks from investors.
Looking at trading volumes, the week recorded transaction values estimated at 48.46 billion Baht, with notable program trading flows indicating heavy activity around potential investment strategies. Foreign investors withdrew approximately 689.45 million Baht, indicating caution amid the fluctuated performance abroad.
Global market movements have not favorably affected local sentiment, particularly following steep declines on the Dow Jones, which fell by 748.63 points (-1.69%) due to weak consumer demand and concerns surrounding new U.S. tariffs. The broader impacts of these external factors create apprehension among Thai investors as they factor these components alongside corporate earnings announcements.
Yet, not all news painted the market red. Positive momentum came from the anticipated return of international tourism triggered by the increasing popularity of series like "The White Lotus," directly impacting visitor searches for accommodations on platforms like Agoda, which noted a 12% rise for Koh Samui, underscoring Thailand's attractiveness to travelers.
Corporate earnings remain at the forefront of investor attention, as firms prepare to disclose their performances throughout the upcoming week. The market is bracing itself for forthcoming quarterly reports, which analysts believe could drive volatility based on the results of key players.
An alarming trend surfaced from one of the prominent logistics companies, KEX (Kerry Express), which disclosed significantly heavy losses amounting to 5.91 billion Baht—a staggering 52% increase from the previous year—citing reduced revenue from their package delivery segment as chief contributor. According to their report presented to the stock market, the entirety of the losses included one-off adjustments impacting their financial standing, emphasizing the need for companies to recalibrate their strategies amid broader economic challenges.
Despite these present challenges, local economic sentiment remains cautiously optimistic, with revenue from the government indicating fiscal strength as collections surpassed expectations significantly—totaling 826 billion Baht. This presents some glimmers of hope as the nation gradually works through economic recovery processes.
Looking forward, market predictions remain tenuous yet hopeful. Analysts project the SET Index to hover within the range of 1,237 to 1,250 points, as investors will likely remain engaged, but vigilant of any new data releases about the economy or company performances. Strategies focused on resilient sectors such as green technology, and those benefiting from domestic economic shifts stand to gain stability as investors align their portfolios for potential upturns.
While past week's trading results posed immediate challenges to market stabilization, the incoming company reports will be instrumental in shaping future investor confidence and market trajectories. Local entities like PTT and others within renewable footprints continue to spotlight potential avenues for investment as the energy transition becomes increasingly pertinent.
Although cautious, the Thai stock market is showing resilience as it adjusts dynamically to continually changing circumstances. Observers will be keeping their eyes peeled for the developments leading to potential recovery or downturns, as economic responsiveness will play key roles for upcoming months.