Thailand’s SET Index closed at 1,122.70 points, decreased 5.92 points or 0.52% with a trading value of THB 42.30 billion. The analyst stated that the Thai market plunged following the overseas market trend due to rising tension in the Middle East after Israel attacked Iran.
Domestically, the Thai market faced pressure from AOT due to the Air India bomb threat at Phuket Airport and King Power seeking to terminate duty-free contracts at three regional airports. However, the surge in oil stocks helped buoy the SET Index from plunging too deep.
Israel initiated a series of airstrikes on Friday morning, local time, focusing on sites it claims are tied to Iran’s nuclear program.
In the aftermath of the strikes, Israeli Defense Minister Israel Katz declared a state of emergency, cautioning the public about a likely missile and drone retaliation against Israel and its civilian population in the near future.
Indian authorities have confirmed that there was only one survivor out of the 242 people on board Air India’s Flight AI171.
As per a report by a local media outlet citing sources at Airports of Thailand Public Company Limited (SET: AOT), King Power Duty Free Company Limited formally requested AOT in May regarding a discussion on the potential termination of its duty-free concession contracts at three regional airports—Phuket, Chiang Mai, and Hat Yai.
