Thailand’s SET Index closed at 1,592.41 points, increased 20.09 points or 1.28%, with a trading value of THB 67.38 billion. The analyst stated that the Thai market surged with upward movements in a diverse range of stocks, due to the prospects of the U.S. and Iran achieving the peace deal and reopening the Strait of Hormuz, which plunged oil prices and eased inflation pressures.
For next week, the analyst expects the Thai market to extend gains with robust momentum, recommending investors closely monitor the U.S. Federal Reserve meeting, with a particular focus on monetary policy directions.
Negotiations between the United States and Iran are nearing the finalization of a memorandum of understanding. The signing could take place as soon as Sunday in Geneva, in coordination with next week’s G7 leaders’ meeting.
The preliminary agreement between the two countries features mutual pledges to remove oil sanctions and restore shipping through the Strait of Hormuz. The draft sets specific preconditions for progressing to final talks, including the release of Iranian funds and the suspension of certain restrictions.
Britain’s gross domestic product (GDP) recorded a 0.1% decline in April, marking the first monthly decrease since August. Official figures attribute this setback largely to the cancellation of major sporting events in the Gulf region, which disrupted the entertainment sector.
The Thai Ministry of Finance held a joint discussion with the Stock Exchange of Thailand (SET) and the Federation of Thai Capital Market Organizations (FETCO). The meeting featured valuable proposals from all sides and presented an opportunity to deepen this collaborative effort.
Regarding key shared objectives, economic and capital market growth were highlighted. Thailand needs a clear growth narrative or “Growth Story” to help investors understand what distinguishes Thai economic growth. The most prominent current policy is the ‘5T Strategy’, which aims to take advantage of the global energy crisis and foster green industries within Thailand.
