Thailand’s SET Index closed at 1,626.03 points, decreased 1.87 points or 0.11%, with a trading value of THB 82 billion. The analyst stated that the Thai market edged slightly down, as downward pressure from Middle East tensions was mostly offset by better-than-expected Chinese June trade figures, which is a positive sentiment for Asian markets.
Furthermore, the buying forces in oil-linked stocks—bolstered by rising crude prices—helped limit losses in the Thai stock index.
For tomorrow, the analyst expects the market to move sideways.
President Donald Trump has officially informed Congress of renewed U.S. military operations against Iran, triggered after Iranian forces allegedly attacked neutral shipping in the Strait of Hormuz.
The latest escalation saw U.S. military strikes on Iranian sites for a third consecutive night on Monday, in response to ongoing Iranian attacks on Gulf shipping.
The probability of the U.S. Federal Reserve raising the policy rate during its July meeting has jumped significantly overnight, following the escalation in the Strait of Hormuz as Washington and Tehran continue to trade blows.
The odds for a 25 basis-point rate hike in July jumped from 34.2% to today’s 43.3%. This is also compared to a 25.7% bet for a rate hike a week ago and 8.3% a month ago.
