Mr. Pongpat Siripipat, Investment Analyst from InnovestX Securities, a securities company in the SCBX group, stated in the “Kaohoon” program on January 5, 2026, that the Stock Exchange of Thailand (SET) Index is likely to trend higher, in line with gains across Asian markets. Furthermore, over the past five years (2021–2025), the SET Index has risen by an average of around 1.3% in the first week after the New Year.
Regarding the U.S. intervention in Venezuela, Mr. Pongpat estimated the development is likely to affect the stock market only in the short term and within a limited range. However, he cautioned that the impact could widen if China, one of Venezuela’s major oil export destinations, responds strongly. As of now, the intervention should benefit the U.S. refinery industry, raise gold value, and lower oil price momentarily due to the concern regarding oil supply.
As for Thailand’s refinery industry, Mr. Pongpat forecasted that the intervention is unlikely to have a significant impact, noting that PTT PCL (SET: PTT) has increasingly focused on liquefied natural gas (LNG) and renewable energy. He also added that rising global and U.S. bond yields could support Thailand’s banking sector, which in turn may help underpin the SET Index.
