Thai Stocks Eyeing Recovery After Sharp 2.4% Selloff

Thailand’s equity market is nursing fresh wounds—the SET Index has bled nearly 30 points across consecutive sessions, sliding 2.4% to hover just above the 1,250 support level. The good news? Tuesday’s open could spark a rebound.

What happened Monday:

• SET dipped 1.67 points (0.13%) to close at 1,252.73
• Mixed action: 227 stocks down, 220 up, 201 flat
• Volume: 6.2 billion shares (41.8 billion baht)
• Tech, finance, and resource sectors took the hit; consumer and property plays cushioned the fall

Why the recovery could happen: Wall Street just ripped higher—NASDAQ surged 2.69%, S&P 500 jumped 1.55%—riding a wave of value hunting and Ukraine ceasefire optimism. Semiconductor stocks went ballistic (+4.4%), pulling the whole tech sector along.

Crude oil also jumped 1.26% to $58.79/barrel on stronger demand signals, which typically fuels EM currency and equity inflows.

Key moves to watch:

• B. Grimm crashed 8.11% (ouch)
• PTT Global Chemical surged 4.71%, PTT Oil & Retail gained 1.55% (oil tailwind)
• Charoen Pokphand Foods plunged 4.65%
• Krung Thai Card jumped 4.63%

Macro backdrop: Thailand’s trade data drops this week. September numbers showed imports +17.2%, exports +19.0%, posting a $1.28B surplus. Tech strength + commodity recovery could give the SET the push it needs to stop the bleeding.