Mr. Natapon Khamthakrue, Assistant Managing Director of Securities Analysis at Yuanta Securities (Thailand), stated that the Stock Exchange of Thailand (SET) Index closed the morning session higher by 1.58%, or 21.83 points, at 1,406.44 points, recovering in line with global markets after a sharp decline driven by concerns over the Middle East issue.
Today, investors are looking for the possibility of negotiating a resolution to the conflict after reports that Iran signaled readiness to negotiate with the United States, despite Iran’s recent denial of the news.
Additionally, investors are closely watching the fact that Iran would need to use a significant amount of weaponry for warfare, but closing the oil transport route might result in massive loss of revenue, possibly limiting Iran’s capacity for prolonged conflict.
If the situation drags on, Iran may have to reopen the Strait of Hormuz, which would reduce pressure on energy prices. Furthermore, President Donald Trump has pledged that the United States will dispatch warships to escort oil tankers passing through the strait.
However, this morning the SET Index saw a notable pullback from a high opening due to short-term risk-reduction selling, as the situation remains uncertain, and it is approaching the weekend.
In the afternoon, the market is expected to remain stable. Capital from foreign investors might continue to flow in, as the index at the 1,400-point level offers returns of over 4%, making it attractive. The support level is set at 1,400 points and the resistance level at 1,420 points.
The top five securities by trading value in the morning session are as follows:
- Delta Electronics (Thailand) PCL (SET: DELTA): Trading value THB 4.58 billion, closed at THB 255.00 per share, up THB 16.00 or 6.69%.
- Kasikornbank PCL (SET: KBANK): Trading value THB 4.33 billion, closed at THB 190.00 per share, unchanged.
- Gulf Development PCL (SET: GULF): Trading value THB 3.76 billion, closed at THB 56.25 per share, up THB 2.25 or 4.17%.
- PTT PCL (SET: PTT): Trading value THB 3.2 billion, closed at THB 33.75 per share, down THB 1.50 or 4.26%.
- True Corporation PCL (SET: TRUE): Trading value THB 2.67 billion, closed at THB 13.30 per share, unchanged.
