On Monday, Thailand’s SET Index closed the morning session at 1,479.85 points, declining 2.60 points or 0.18%, with a trading value of THB 29.37 billion. Mr. Vathan Jitsomnuk, Director of Strategy Analysis at Pi Securities, stated that the Thai stock market moved within a narrow range amid negative sentiment from external factors, particularly the ongoing volatility in the Middle East.
On Friday night, Iran reopened the Strait of Hormuz, but has recently re-sealed it, following a reported attack from the United States on an Iranian-flagged vessel. However, the market has not reacted significantly to these developments, as the situation has not escalated beyond previous levels.
Mr. Vathan stated that there is still optimism regarding potential negotiations between the United States and Iran this week, noting the worst-case scenario regarding the conflict may have passed and that negotiations are likely to proceed, which has led investors to shift focus away from geopolitical risks and back towards monitoring corporate earnings releases and broader economic trends.
Domestically, the government’s plan to increase the public debt ceiling remains a concern and poses a potential risk to investor confidence, particularly among foreign investors, potentially leading to a downgrade of Thailand’s credit rating. Additionally, traders are awaiting further announcements on economic stimulus measures, which are expected to be introduced in phases.
For the afternoon session, the Thai bourse is expected to continue moving within a limited range, with support level estimated at 1,470 points and resistance at 1,490 points.
The five most actively traded securities by trading value were:
- SCB (XD): trading value of THB 4.28 billion, closing at THB 135.50, down by THB 9.50 or 6.55%
- PTTEP: trading value of THB 2.03 billion, closing at THB 141.00, down by THB 4.00 or 2.76%
- KBANK: trading value of THB 1.95 billion, closing at THB 188.50, down by THB 0.50 or 0.26%
- CPALL: trading value of THB 1.82 billion, closing at THB 46.00, down by THB 1.50 or 3.16%
- PTT: trading value of THB 1.21 billion, closing at THB 34.50, down by THB 0.25 or 0.72%
