Thailand’s SET Index closed at 1,062.78 points, decreased 4.85 points or 0.45% with a trading value of THB 32.50 billion. The analyst stated that the Thai market plunged due to the escalation of Middle Eastern conflicts, and news of Iran closing the Strait of Hormuz.
Domestically, investors’ confidence continued to decline, bringing the SET Index to below the “Liberation Day” level seen in April. However, tensions in Thai politics have marginally subsided after the ruling coalition reaffirmed its unity to continue pushing the FY2026 budget consideration.
The analyst recommends investors closely monitoring the Israel-Iran situation, and the U.S. CCI figure, as well as the cabinet and the Monetary Policy Committee meeting.
Thailand’s prime minister, Paetongtarn Shinawatra, moved to shore up support from coalition partners on Sunday amid mounting pressure over her leadership, triggered by a leaked phone call with Cambodia’s former prime minister Hun Sen.
NIDA, the National Institute of Development Administration, had conducted a survey regarding the government’s policy of approving the opening of entertainment complexes that includes casinos. 56.72% of the sample group stated their disagreement on opening both complexes and casinos.
The Bank of Thailand is widely anticipated to maintain its current interest rate at Wednesday’s meeting, opting to preserve its limited room for further monetary easing in light of unresolved trade uncertainties and resurfacing political tensions at home.
On Monday, the share price of Krungthai Card Public Company Limited (SET: KTC) slumped by 15.11% or THB 5.25 to THB 29.50, with a trading value of THB 548.83 million.
Notably, KTC has 16.30% of its shares pledged in the margin account compared with paid-up shares as of 31 May 2025. Markets are speculating that the decline in Thai stock exchange could lead to a forced sale in the margin account.
UOB Kay Hian Securities (Thailand) (UOBKH) noted that following the plunge of KTC’s shares to the floor limit of THB 29.75 per share (-15%) during the morning session, there was no significant news or fundamental change that led to the sharp decline as far as the company concerned.
