On Wednesday at 10:04 a.m., the SET Index opened the morning session at 1,380.21 points, plummeting 86.30 points or 5.88% with a total trading value of THB 18,811.49 million.
InnovestX Securities expects the index to continue its downward adjustment, pressured by the prolonged Middle East conflict. Even though oil prices are surging after Iran closed the Strait of Hormuz, which could support upstream energy stocks, the positive effect is likely to be offset by concerns over inflation and rising energy costs, negatively affecting listed companies’ performance.
Domestically, the Election Commission is preparing to announce the certification of party-list MPs.
Technically, the SET Index has dropped below its short-term moving average baseline, which is an unfavorable signal.
