The Thai stock market moved back to the upside again on Friday, one day after the end of the modest two-day winning streak in which it had gathered more than 10 points or 1.2 percent in the process. The Stock Exchange of Thailand finished just below the 790-point plateau, but now investors are likely to stay on the sidelines until the current domestic upheaval is sorted out.
At least 21 people have died, including a Japanese cameraman, and more than 900 injured in violent clashes that occurred in Bangkok over the weekend, as the Thai army tried to retake areas from anti-government protesters. The Thai Army launched a crackdown on anti-government protesters in Bangkok leading to clashes.
During the protest Thai troops fired rubber bullets and tear gas at demonstrators, while anti-government protesters fought back with petrol bombs and grenades. After hours of violence, army spokesman Sansern Kaewkamnerd said troops would pull back and avoid confrontation while the government seeks negotiations with the protesters.
Protesters have been demonstrating for weeks, demanding that Prime Minister Abhisit Vejjajiva to dissolve Parliament and call new elections. Now media reports suggest that the government may call for new elections in six months - three months earlier than expected. The protestors continue to insist on an immediate withdrawal.
The Thai stock market will be closed on Tuesday, Wednesday and Thursday for the Songkran Festival.
The global forecast for the Asian markets is positive, riding positive sentiment after the European Union offered Greece a one-year rescue package of least 45 billion Euros. That sent the Euro up and the dollar down, so commodity prices have seen a modest rally, as well, while technology and property stocks also may provide support. The European and U.S. markets finished firmly higher, and now the Asian markets are forecast to follow suit.
The SET finished slightly higher on Friday, as the energy stocks ended mostly higher.
For the day, the index added 5.73 points or 0.73 percent to finish at the daily high of 789.66 after dipping as low as 775.21. Volume was 2.313 billion shares worth 24.116 billion baht. There were 215 gainers and 104 decliners, with 136 stocks finishing unchanged.
Among the actives, energy giant PTT was up 0.75 percent, while PTT Chemical added 4.00 percent, coal producer Banpu shed 1.27 percent, Siam Commercial Bank fell 1.97 percent and Kasikornbank jumped 1.30 percent.
The lead from Wall Street is modestly bullish as stocks were able to advance by solid margins to close out the week on Friday. Initial gains were boosted by wholesale trade data that further indicated that the economy is on track for a rebound from the worst economic downturn in decades.
The major averages all closed in positive territory, extending their gains for the sixth straight week, with the Dow briefly breaking above the psychologically important 11,000 level in late-session dealing.
On the economic front, the Commerce Department reported that wholesale inventories increased by 0.6 percent in February following an upwardly revised 0.1 percent increase in January. Economists had expected inventories to edge up by 0.4 percent compared to the 0.2 percent drop originally reported for the previous month.
With the upward revision to the January data, wholesale inventories saw two consecutive months of growth for the first time since July-August of 2008.
Additionally, the Commerce Department said that wholesale sales rose by 0.8 percent in February after a downwardly revised 0.9 percent increase in the previous month.
The major averages all saw upside in late-session dealing, closing near their best levels of the day. The Dow gained 70.28 points or 0.6 percent to close at 10,997.35, the NASDAQ advanced by 17.24 points or 0.7 percent to 2,454.05 and the S&P 500 rose by 7.93 points or 0.7 percent to 1,194.37.
Despite some wobbly sessions, the major averages were all able to finish with gains for the week. The Dow saw a weekly gain of 0.6 percent, while the S&P 500 and the NASDAQ moved up by 1.4 percent and 2.1 percent, respectively.
In economic news, the ASEAN (Association Of South-East Asian Nations) summit which concluded Friday in the Vietnamese capital Hanoi has called for the signing of a legally-binding treaty for tackling global warming.
A summit declaration issued by the regional grouping said developed countries had to take the lead in ensuring a reduction in greenhouse gas emissions which would restrict global warming within the two degree range allowed by scientists.
Further, it sought more ambitious commitments from richer nations while permitting developing countries to reduce emissions only "on a voluntary basis, in accordance with their different national circumstances."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.