Mr. Gun Hathaisattha, Chief Investment Strategist and Economist of the Research Division at CGS International (CGSI) Securities (Thailand), stated in the “Kaohoon” program on March 6, 2026, that the Stock Exchange of Thailand (SET) Index is likely to move in a downward trend today, pressured by the conflict in the Middle East..
Mr. Gun noted that at the beginning of the year, capital inflows had been moving toward emerging markets, including Thailand. However, the conflict in the Middle East has pushed oil prices higher. This weighs on Asian markets that import significant amounts of petroleum. Moreover, the flows also redirect toward the US dollar, a safe-haven asset that has strengthened amid the conflict.
Due to uncertainty surrounding the conflict, investors are recommended to adopt a barbell investment strategy by holding both risk and safe assets. For example, including Minor International PCL (SET: MINT) and Bumrungrad Hospital PCL (SET: BH) stocks alongside gold could help balance portfolios. Both stocks may gain if the conflict eases, while gold still has upside support from the high level of U.S. debt.
Mr. Gun also highlighted dividend stocks, particularly in the ICT and banking sectors, noting that their recent declines reflect the broader market trend rather than the impact from the Middle East. Nonetheless, investors are recommended to diversify their portfolios across three to four stocks.
As for China-related stocks, Mr. Gun noted that they remain highly risky despite the country’s recent annual political gatherings meant to stimulate the economy. He cited the Middle East conflict as a concern, given China’s close relationship with Iran and its significant LNG imports from the region. In addition, China continues to face structural challenges in its real estate sector.
