FX.co ★ Thai Shares Tipped To Open Under Water Again On Wednesday

Ahead of the Songkran Festival's long weekend, the Thai stock market's three-day winning streak, during which it rallied more than 35 points or 2.5 percent, came to an end. Now, the Stock Exchange of Thailand is slightly above the 1,395-point mark, and is expected to face pressure again on Wednesday.

The global outlook for Asian markets indicates minimal activity, with buyers looking for bargains amidst worries about interest rates. European markets fell, while U.S. markets fluctuated and ended in a draw. Asian markets are expected to follow the U.S. example.

On Thursday, the SET finished slightly lower due to losses in sectors including food, consumption, industrial, property, resource, service, and technology.

On the day, the index dropped 11.79 points or 0.84 percent, settling at 1,396.38 after trading between 1,394.71 and 1,406.77. Trading volume reached a total of 15.665 billion shares worth 42.973 billion baht. There were 300 losers and 156 winners, with 199 stocks remaining unchanged.

Among the leading shares, Advanced Info fell by 0.98 percent, Thailand Airport by 0.74 percent, while Asset World stumbled by 1.33 percent. However, Banpu soared by 2.65 percent, and Bangkok Bank rallied by 1.40 percent.

U.S. markets provide little guidance, as major averages opened mixed on Tuesday. Despite a bout of volatility, they ended with little overall change. The Dow added 63.86 points or 0.17 percent to finish at 37,798.97, while the NASDAQ shed 19.77 points or 0.12 percent to close at 15,865.25 and the S&P 500 sank 10.41 points or 0.21 percent to conclude at 5,051.41.

Investors are balancing the idea of buying stocks at currently reduced prices against concerns for the future of interest rates. Fed chair Jerome Powell hinted that rates are likely to stay high for a longer period due to a "lack of progress" towards reaching the central bank's inflation target.

Uncertainty loomed over crude oil prices on Tuesday, slightly dropping as U.S. Treasury Secretary Janet Yellen hinted at new sanctions on Iran in response to its attack on Israel. As a result, West Texas Intermediate crude for May delivery fell by $0.05, or 0.1 percent, to stand at $85.36 a barrel.