Thailand’s SET Index closed at 1,382.97 points, decreased 27.40 points or 1.94%, with a trading value of THB 94.19 billion. The analyst stated that the Thai market sharply plunged for the second consecutive session, along with the global market trend, due to concerns over the escalating war in the Middle East, raising oil prices to above $100 per barrel and fueling fears of surging inflation as well as tightening interest rates.
The analyst recommends investors closely monitor the upcoming G20 emergency meeting regarding the release of over 400 million barrels of the SPR oil reserve.
Meanwhile, the Thai market is expected to potentially exhibit a technical rebound tomorrow.
During February, consumer inflation in China saw its strongest increase in over three years, following a surge in spending during an extended Lunar New Year holiday. The climb outpaced market estimates and coincided with a slowdown in producer price deflation, offering signs of improving domestic demand.
Vietnam is moving to scrap import tariffs on petroleum and related products, a measure intended to secure domestic energy supplies as conflict in the Middle East threatens global oil shipments. Officials stated the proposed changes aim to head off potential shortfalls as regional supply tightens.
Iran has appointed Mojtaba Khamenei as its new supreme leader following the death of his father, Ayatollah Ali Khamenei, during the ongoing conflict with the U.S. and Israel. The decision comes at a time when hostilities have driven oil prices above $100 per barrel, signaling sustained influence by hardline factions in Tehran.
