Mr. Koraphat Vorachet, Division Head of Research at Krungsri Securities (KSS), stated that the Thai stock market experienced a sharp decline this morning due to investment pressures from escalating tensions in the Middle East. This triggered heavy selling, causing the SET Index to drop by 8% and hit Circuit Breaker Level 1 at 12:18 PM, prior to the morning session’s close.
Large-cap stocks saw significant declines, such as DELTA, which fell by more than 10%, while GULF dropped 10%, and BGRIM decreased by nearly 20% due to concerns over oil and natural gas price trends.
Mr. Koraphat noted that the index’s downward movement since March 2 has now closed the gap that formed during the Election Rally, around the 1,361-point level. He suggests investors closely monitor the direction of the Dollar Index, as well as major government measures or announcements.
Regarding investment strategies amid market volatility, gradual accumulation of fundamentally strong stocks is recommended for medium- to long-term investment, such as GULF, refinery group stocks like BCP and PTTGC, and domestically driven stocks such as AMATA, TRUE, and CPAXT.
For the afternoon trading outlook, the support level is assessed at 1,361–1,350 points and the resistance at 1,400–1,420 points.
According to data from The Stock Exchange of Thailand, the most recent use of Circuit Breaker measures prior to this occurred on March 23, 2020.
