23.04.202606:19:53UTC+00Thailand Stocks Sink toward 3-Week Trough

Thailand’s SET 50 Index fell 13 points, or 1.3%, to 957 on Thursday afternoon, extending the previous session’s losses and approaching a three-week low.

Sentiment was weighed down by a sharp decline in U.S. stock futures, even though Wall Street had closed at a fresh high on Wednesday after President Trump extended the U.S.–Iran ceasefire.

Supportive news, such as Moody’s upgrade of Thailand’s outlook, was largely ignored as foreign investors continued to pull funds from the market. At the same time, worries intensified over Thailand’s weak growth profile: the economy expanded just 2.4% last year, underperforming most regional peers.

Finance Minister Ekniti Nitithanprapas also warned that fiscal space is limited. Public debt has risen to 66% of GDP, nearing the 70% statutory ceiling and stoking concerns that the limit may have to be raised.

Sector-wise, industrial services, process industries, transport, and consumer services led the decline. Among the major laggards were Siam Cement (-7.7%), Thai Oil (-3.9%), Gulf Development (-3.4%), and Delta Electronics (-3.3%).