The Thai stock market has finished higher in two of three trading days since the end of the two-day slide in which it had fallen more than 40 points or 3.3 percent. The Stock Exchange of Thailand settled just below the 1,185-point plateau, and now traders are expecting renewed consolidation when the market kicks off trade on Wednesday.
The global forecast for the Asian markets is negative due to the political situation in Greece, which is headed for a new round of elections after lawmakers failed to form a coalition government. In addition, rating agency Moody's Investors Service has downgraded 26 Italian banks, calling them now amongst the lowest in advanced European countries. However, the downside may be limited by some upbeat U.S. economic data. The European and U.S. markets finished firmly in the red, and the Asian bourses are expected to follow that lead.
The SET finished sharply higher on Tuesday following major gains from the energy producers and financial shares.
For the day, the index jumped 19.04 points or 1.63 percent to finish at the daily high of 1,184.55 after trading as low as 1,159.66. Volume was 4.784 billion shares worth 28.522 billion baht. There were 336 gainers and 249 decliners, with 102 stocks finishing unchanged.
Among the gainers, energy giant PTT was up 1.52 percent, while PTT Global Chemicals jumped 2.34 percent, coal miner Banpu climbed 1.16 percent, Bangkok Bank gathered 1.14 percent, Siam Commercial Bank spiked 3.18 percent and Kasikornbank collected 2.32 percent.
The lead from Wall Street continues to suggest consolidation as stocks came under pressure in the latter part of the trading day on Tuesday, after showing a lack of direction for much of the session. With the losses, the major averages again ended at their worst closing levels in over three months.
The selling pressure followed continued uncertainty about the political situation in Greece, which is headed for a new round of elections after lawmakers failed to form a coalition government. The new elections are seen as referendum on whether Greece should remain a member of the Eurozone, adding to the recent worries about the outlook for Europe.
However, some upbeat U.S. economic data helped to limit the downside. The National Association of Home Builders reported that homebuilder confidence reached a five-year high in May. The NAHB/Wells Fargo Housing Market Index jumped to 29 in May from a downwardly revised 24 in April. Economists had expected the index to edge up to 26 from the 25 originally reported for the previous month.
A separate report from the New York Federal Reserve showed a much faster than expected expansion in New York manufacturing activity. The New York Fed said its general business conditions index jumped to 17.1 in May from 6.6 in April, with a positive reading indicating an increase in regional manufacturing activity. Economists had expected the index to show a more modest increase to a reading of 10.0.
Additionally, the Commerce Department said retail sales edged up by 0.1 percent in April following a revised 0.7 percent increase in March - matching forecasts. Core sales, which exclude gas, autos, and building materials, rose by 0.4 percent in April, exceeding estimates for a 0.3 percent increase.
Among individual stocks, shares of Home Depot (HD) fell by 2.4 percent after the home improvement retail giant reported first quarter earnings that beat estimates but on weaker than expected sales. Avon Products (AVP) also came under pressure after Coty Inc. withdrew its $10.7 billion offer to acquire the cosmetics company.
The major averages moved roughly sideways going into the close, stuck firmly in negative territory. The Dow fell 63.35 points or 0.5 percent to finish at 12,632.00, while the NASDAQ slipped 8.82 points or 0.3 percent to end at 2,893.76 and the S&P 500 dropped 7.69 points or 0.6 percent to 1,330.66.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.