The Thai stock market has finished higher in three of the last four sessions, adding more than 18 points or 4 percent in the process. The Stock Exchange of Thailand regained the critical support level of 400 points - but analysts are expecting the market to hand it right back when the market kicks off trade on Monday, thanks to continued demonstrations to protest the rule of People's Power Party.
Thailand's two airports remain closed, surrounded by several thousand People's Alliance for Democracy (PAD) protesters, weighing heavily on the Thai economy in general and the tourism sector in particular. They were countered this weekend by government supporters, further exacerbating tensions. The PAD has been trying for months to bring down the government elected in December, accusing it of being a corrupt proxy of ousted and exiled prime minister Thaksin Shinawatra. The anti-government group, which led protests in September 2006 that toppled Shinawatra, claim the administration elected in a December poll is a stand-in for the former premier. Thaksin fled three months ago to avoid corruption charges. His brother-in-law, Somchai Wongsawat, currently leads the government and has rejected requests for a snap election, calling his government the duly elected ruling body.
The global forecast for the Asian markets is mixed, thanks to more unsetting news out of the U.S. corporate sector. The U.S. markets finished last weekly sharply higher, providing a healthy dose of positive momentum for the fresh week of Asian trade - while the European bourses posted modest gains. The Asian markets are likely to see a higher open, but tempered by ongoing concerns of a global recession.
The SET finished sharply higher on Friday, thanks to strong gains among the financials and the energy stocks. For the day, the index added 12.03 points or 3.09 percent to close at 401.84 after trading between 391.40 and 403.26. Volume was 2.681 billion shares worth 11.349 billion baht.
Among the gainers, energy giant PTT was up 5 percent, while subsidiary PTT Exploration and Production added 10 percent, coal producer Banpu jumped 7.47 percent and Kasikornbank was up 1.19 percent.
The lead from Wall Street is modestly positive once again as stocks ended Friday's shortened trading day notably higher after showing a lack of direction for much of the session. The uncertainty in the broader markets came as little news and mixed markets overseas gave investors little to influence their trading.
In corporate news, various reports stated that General Motors (GM) has hired a real estate company to help it raise as much as $257 million in sales and other deals related to its European offices and assets. The company may also eliminate its Saturn, Saab and Pontiac brands in addition to Hummer as part of cutting costs efforts to win $12 billion in government loans. GM also reportedly seeks to cut debt levels and reduce costs for active and retired union workers.
Meanwhile, shares of Panasonic (PC) plummeted 18.5 percent following a downward revision of the company's consolidated financial results forecast for the fiscal year ending March 31, 2009. The company lowered its full-year 2009 net income outlook to 30 billion yen from 310 billion yen projected earlier. Panasonic now expects full-year consolidated net sales of 8,500 billion yen, down from its previous forecast of 9,200 billion yen. According to Panasonic, its business conditions are deteriorating sharply, mainly due to the rapid appreciation of the yen, sluggish consumer spending and ever-intensified price competition.
The major averages showed a notable upward move in late day trading, climbing firmly into positive territory. The Dow closed up 102.43 points or 1.2 percent at 8,829.04, the Nasdaq closed up 3.47 points or 0.2 percent at 1,535.57 and the S&P 500 closed up 8.56 points or 1.0 percent at 896.24. With the gains on Friday extending a recent upward move, the major averages all closed higher for the week. The Dow rose 9.7 percent for the week, while the Nasdaq and the S&P 500 posted weekly gains of 10.9 percent and 12 percent, respectively.
In economic news, Thailand will on Monday provide November numbers for inflation. Overall CPI is expected to increase 2.8 percent on year, easing from 3.9 percent in October. Core inflation is called at an annual 2.2 percent, down from 2.4 percent in the previous month.
Also, the Thai economy slowed down in October led by easing manufacturing growth, the central banks said on Friday, moderating farm income and shrinking tourist arrivals amid the political uncertainty. Manufacturing production growth fell to 2 percent year-on-year in October from 4.3 percent in September. Economists were looking for an increase of 2.2 percent Household spending recorded a weaker growth of 2.8 percent, while private investment rose 1.9 percent.
Finally, Thailand saw a trade deficit of $964 million, with exports growing 4.7 percent year-on-year. Agricultural exports slowed, while hi-tech shipments slid for the first time since March 2002 due to weaker demand. Imports rose 23.5 percent. The current account recorded a deficit of $1.13 billion, while the balance of payment surplus was $4.04 million. Thailand had international reserves of $103.2 billion in October.
For comments and feedback contact: editorial@rttnews.com
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.