On Wednesday, Thailand’s SET Index closed the morning session at 1,484.99 points, representing an increase of 20.56 points or 1.40%, with a trading value of THB 40.01 billion.
Mr. Chaiyaporn Nompitakcharoen, Managing Director, Sales & Trading Business, at Bualuang Securities, stated that the Thai stock market saw a significant surge, following a similar upward trend seen across international equity markets. The key driving factor for this rally was the recent announcement that the United States and Iran have reached a temporary ceasefire agreement, effective for a period of two weeks.
According to the terms of the agreement, Iran has agreed to open the maritime passage through the Strait of Hormuz, with Pakistan acting as a mediator in the negotiations. This development has led to a marked easing of geopolitical tensions in the Middle East.
The positive sentiment generated by the de-escalation of geopolitical risks has spurred a return of capital flows into risk assets in the short term. This has provided a strong boost to sectors that had previously been under pressure due to the conflict, allowing stocks in areas such as tourism, power generation, and hospitals to rebound prominently.
However, there was still some profit-taking observed in oil and petrochemical stocks, as global crude oil prices experienced a sharp decline. This exerted downward pressure on the index, causing its gains to be less pronounced compared to other Asian markets. Additionally, the Thai bourse had declined less than its regional peers in the earlier downturn, which has resulted in today’s recovery being relatively more subdued.
Looking ahead to the afternoon trading session, Bualuang forecasts that the index will likely move sideways-up, with resistance anticipated at the 1,500-point level and support at 1,465 points.
The five stocks with the highest trading value today were as follows:
- DELTA: trading value of THB 4.09 billion, closed at THB 285.00, up by THB 9.00 or 3.26%
- PTTEP: trading value of THB 3.83 billion, closed at THB 153.00, down by THB 7.00 or 4.38%
- GULF: trading value of THB 1.77 billion, closed at THB 60.50, up by THB 1.00 or 1.68%
- PTTGC: trading value of THB 1.54 billion, closed at THB 36.25, down by THB 0.75 or 2.03%
- AOT: trading value of THB 1.41 billion, closed at THB 54.25, up by THB 1.50 or 2.84%
