Thailand’s SET Index closed at 1,575.07 points, decreasing by 13.61 points or 0.86%, with a trading value of THB 64.33 billion. The analyst stated that the Thai stock market edged lower due to selling pressure from big-caps in various sectors. This came after the earnings session had ended and there were no new supporting catalysts.
Meanwhile, foreign and institutional investors have revised their portfolios to avoid risks from the Middle East conflict and U.S. interest rates.
For tomorrow, the analyst expects the Thai benchmark to consolidate, with a potential to rebound. The analyst also recommends investors closely monitor tonight’s U.S. labor data release, as well as fund flow direction.
Thailand’s Supreme Administrative Court has overturned a lower court order that dismissed a lawsuit filed by Clinical Professor Dr. Sarana Boonbaichaiyapruck, directing the Administrative Court of First Instance to accept the case for consideration. The lawsuit came after the country’s telecommunication board attempted to remove him from the leading position, citing prohibited characteristics.
Oil prices moved higher as renewed U.S.-Iran hostilities sharpened investor concern over crude supply security. The market remained focused on Gulf export risks and the restricted Strait of Hormuz as the conflict moved into its sixth month.
