Thailand’s SET Index continued its downward spiral, sliding to a five-year low on Monday, June 23, 2025. The benchmark index fell 1% to 1,057.01, marking its weakest level since the sharp decline triggered by the Covid-19 pandemic back in March 2020.
The latest sell-off comes as risk sentiment soured following news of U.S. airstrikes on Iran, which have heightened instability across the Middle East. The tensions led to an announcement of the closure of the Strait of Hormuz, sending crude oil prices into volatility and weighing on Asian equities.
In Thailand, the energy sector could face additional headwinds after Cambodia moved to prohibit the import of Thai oil and gas—a decision expected to deliver only modest direct impacts to the segment but adding to investors’ jitters.
On the domestic political front, further uncertainty loomed as Thailand’s coalition government came under increased scrutiny. The Senate recently submitted a petition to the Constitutional Court demanding the prime minister step down, intensifying pressure on the cabinet. Meanwhile, protest groups signaled plans for rallies intended to ratchet up demands for the leader’s resignation.
With both global geopolitical turmoil and unresolved domestic issues clouding sentiment, the Thai stock market finds itself navigating its most challenging environment since the pandemic-induced crash of five years ago.
In response to heightened market turbulence triggered by the latest unrest in the Middle East, the Stock Exchange of Thailand (SET), the Market of Alternative Investment (mai) and the Thailand Futures Exchange (TFEX) have announced temporary measures to stabilize trading activities and protect investors during June 23-27, 2025.
The SET Board, in an emergency meeting held on June 22, 2025, approved a set of temporary rules aimed at reducing price swings and allowing investors more time to process information and make informed decisions. TFEX has also aligned with SET by introducing corresponding measures for the derivatives market.
Key Temporary Measures (Effective June 23-27, 2025):
Ceiling & Floor Adjustment
- The daily price movement limits (Ceiling/Floor) will be reduced by half:
- For common stocks and investment units on SET and mai: from ±30% to ±15%.
- For foreign shares: from ±60% to ±30%.
- For equity-based products on TFEX, including Index Futures, Options, Sector Futures, and Single Stock Futures: from ±30% to ±15%.
- These changes do not apply to Depositary Receipts (DR) or DRx.
| Markets | Product | Ceiling & Floor | |
| Current | New | ||
| SET, mai | Stocks/Equities | +/- 30% | +/- 15% |
| Foreign share | +/- 60% | +/- 30% | |
| TFEX | Index Futures / Options | +/- 30% | +/- 15% |
| Sector Futures | +/- 30% | +/- 15% | |
| Single Stock Futures | +/- 30% | +/- 15% | |
Dynamic Price Band Reduction
The intraday price fluctuation band for each individual security will be narrowed from ±10% to ±5%, based on the most recent trading price.
