Earlier, Krungsri Securities predicted the SET index dropping to 1,515-1,520 points on Thursday (January 30) before staging a rebound.
Elsewhere in Asia, Japan’s Nikkei Index closed at 22,977.75, down 401.65 points, or 1.72 per cent.
Hong Kong’s Hang Seng Index closed at 26,449.13, down 711.50 points, or 2.62 per cent.
South Korea’s KOSPI Index closed at 2,148, down 37.28 points, or 1.71 per cent.
Taiwan’s TAIEX Index closed at 11,421.74, down 696.97, or 5.75 per cent.
China’s Shanghai SE Composite remained closed for the Chinese New Year.