PATTAYA, Thailand – Thailand’s stock market ended slightly higher on Thursday as buying returned to banking shares and energy stocks benefited from rising crude oil prices, while renewed tensions in the Middle East continued to pressure tourism-related companies. The Stock Exchange of Thailand (SET) Index closed at 1,641.03 points, up 1.69 points or 0.10%, with total trading value of 86.81 billion baht. The index moved between positive and negative territory during the session, reaching a high of 1,648.63 points and a low of 1,634.71 points.
A total of 187 listed securities gained, 262 declined, and 209 remained unchanged. Chaiyaporn Nompitakcharoen, Managing Director of Bualuang Securities’ securities trading business, said the Thai market traded sideways within a limited range, supported by renewed buying in banking stocks after heavy selling the previous day. Energy stocks also continued to attract buying interest, particularly upstream energy companies such as PTT Exploration and Production (PTTEP), following continued gains in crude oil prices. Brent crude oil prices moved close to US$100 per barrel again after reports of an attack on a US military base in the Persian Gulf increased concerns over Middle East tensions and possible supply disruptions.
However, the same geopolitical concerns created pressure on tourism-related stocks. Rising oil prices and uncertainty in the region weighed on investor sentiment toward travel and tourism companies, pushing related shares lower during the session. Looking ahead, analysts expect the SET Index to continue trading sideways in the next session, although volatility may increase as investors reduce risk exposure ahead of Thailand’s extended holiday period. The market is expected to face resistance at 1,650 points, while support is seen at 1,635 points.
