Thailand’s SET Index closed at 1,457.91 points, increased 47.52 points or 3.37%, with a trading value of THB 73.73 billion. The analyst stated that the Thai market sharply surged due to buying forces in big-cap stocks, following the prospect of a negotiation for an end to the U.S.-Iran war.
For tomorrow, the analyst expects the Thai market to extend gains with limited upside, due to pressures from the economic growth and listed companies’ profit outlooks.
The U.S. has passed a 15-point plan to Iran via Pakistani intermediaries as part of the negotiation talk for a ceasefire aimed at ending the war in the Middle East. The proposal focused on limiting Iran’s nuclear capability, while offering to remove all sanctions and assist Iran’s civilian nuclear project.
Meanwhile, Iran has reportedly outlined its own preliminary terms for a possible ceasefire. Among the key requirements are compensation for war damages, control over the Strait of Hormuz, security guarantees, and unrestricted development of Iran’s ballistic missile program.
Iran’s Ministry of Foreign Affairs has issued a formal communiqué outlining the conditions under which vessels may transit the Strait of Hormuz.
The document states that the Islamic Republic has restricted passage of vessels belonging to or associated with the aggressor nations, specifically the U.S. and Israel.
Japanese Prime Minister Sanae Takaichi requested that the International Energy Agency (IEA) organize further coordinated releases of oil reserves.
The request comes as Japan seeks to address potential supply challenges linked to an ongoing blockage of the Strait of Hormuz.
