Thailand’s SET Index closed at 1,449.62 points, increased 2.57 points or 0.18%, with a trading value of THB 57.70 billion. The analyst stated that the Thai market edged up in the closing hour after having moved sideways in the negative territory for nearly the entire session, due to supporting factors from big-cap stocks in the oil, petrochemical, and ICT sectors. Additionally, the European markets and U.S. futures surged after having priced in the Middle East war catalysts.
Domestically, the Thai market was bolstered by reports surrounding the presentation of the new cabinet by the Prime Minister for royal approval.
For tomorrow, the analyst expects that the Thai market could continue moving with volatility.
Thailand has reached an agreement with Iran to allow Thai oil tankers to safely navigate the Strait of Hormuz. This move will help alleviate concerns regarding the country’s energy imports amid the ongoing tensions in the Middle East.
Kuomintang (KMT) Chairperson Cheng Li-wun has announced plans to travel to China next week after receiving a formal invitation from Chinese President Xi Jinping. The visit comes shortly before U.S. President Donald Trump is set to meet Xi in Beijing on May 14 – 15.
President Donald Trump has signaled interest in taking control of Iran’s oil resources, drawing comparisons to a similar U.S. operation in Venezuela earlier this year. Any such action would likely center on Kharg Island, which handles the majority of Iran’s oil exports.
Kuwait’s largest power and desalination facility suffered an Iranian attack that killed one Indian worker and damaged a major building. Authorities say the incident has not affected the nation’s power or water distribution, despite the structural impacts caused.
This assault follows recent strikes by Coalition forces on a water reservoir facility in Haftkel, Iran, escalating tensions across the region amid ongoing conflict between the U.S., Israel, and Iran.
Iran has formally rejected recent proposals from the United States intended to resolve the ongoing conflict, describing the offers as excessive and unrealistic. Tehran clarified that its communications with Washington have been conducted exclusively through intermediaries, with no direct negotiations taking place.
