The Thai stock market rose in line with broader Asian markets, surging by 1.30% to 1,424.08 points in the morning session, buoyed by easing geopolitical tensions in the Middle East, according to Mr. Watan Jitsomnuek, Director of Strategy Analysis at Pi Securities.
Mr. Watan highlighted that a prolonged war would negatively impact all stakeholders – especially the United States, as it is spending approximately $1 billion per day, or nearly 30 billion baht, on the conflict. This comes at a time when America is already grappling with a high debt burden and a sluggish economy.
Recent labor data remains underwhelming, another concern for the U.S. economy. This prompts U.S. President Donald Trump to announce that the war is close to ending, stated the analyst. Concurrently, global crude oil prices have fallen back to around $80 per barrel after briefly surging to nearly $120 per barrel.
Persistently high oil prices would pose severe challenges for Asian economies, which depend heavily on oil imports transported through the Strait of Hormuz. These developments have contributed to the morning surge across Asian equities, including Thailand.
The Thai market was further buoyed by strong buying in large-cap stocks such as DELTA, helping to bolster overall sentiment. Looking ahead to the afternoon session, Mr. Watan projected that the SET Index would likely maintain positive momentum, citing the lack of new negative catalysts. Resistance for the index is pegged at 1,430 points, with support at 1,415 points.
As of the latest close, the top five most actively traded stocks were:
- Delta Electronics (Thailand) (DELTA) – Trading value: 3.08 billion baht, closing at 264.00 baht, up 8.00 baht.
- PTT Exploration and Production (PTTEP) – Trading value: 2.44 billion baht, closing at 141.50 baht, up 1.50 baht.
- Kasikornbank (KBANK) – Trading value: 2.22 billion baht, closing at 190.00 baht, up 2.00 baht.
- True Corporation (TRUE) – Trading value: 2.16 billion baht, closing at 13.30 baht, up 0.10 baht.
- Airports of Thailand (AOT) – Trading value: 2.08 billion baht, closing at 51.75 baht, up 2.00 baht.
