• The Thai stock market continued to close in positive territory from the previous week, despite pulling back towards the end of the week.
The SET Index moved within a narrow range early in the week. Although it received support from domestic political factors, upside was limited by tensions in the Middle East following reports that the Houthi (ally of Iran) threatened to close the Bab el-Mandeb Strait, one of the key shipping routes in the Middle East. Additional pressure also came from selling in shares of a major electronic parts manufacturer due to company-specific factors. However, the SET Index rebounded mid-week in line with other bourses, supported by reports that the US might withdraw its forces from Iran within 2-3 weeks, which raised hopes that the Middle East conflict was nearing an end.
The SET Index pared gains somewhat during the remainder of the week after President Donald Trump delivered a speech stating that the US will hit Iran very hard over the next 2-3 weeks, while Iran responded aggressively, indicating readiness to retaliate. This reflected the continued and protracted tension in the Middle East, prompting investors to take profits in individual stocks, led by energy stocks, which faced additional pressure from concerns over a potential review of the government’s energy price structure.
• On Friday, April 3, 2025, the SET closed at 1,454.00 points, up 0.48 percent over-week. The average daily trading value was THB62,041.86 million, down 4.69 percent over-week. The mai closed at 216.70 points, down 0.35 percent over-week.
• During April 6-10, 2026, KSecurities expects the SET to have support at 1,430 and 1,410 points, but resistance at 1,480 and 1,500 points, respectively. KResearch advises investors to watch key factors, including Thailand’s March Inflation Data, new government’s policy statement to Parliament, Middle East conflict, and foreign capital flows. US economic data that warrants close monitoring includes February Durable Goods Orders, PCE/Core PCE Price Index, March CPI, GDP report for 4Q-2025, FOMC minutes, plus weekly jobless claims. Other important overseas economic indicators to monitor include Eurozone’s February PPI, March Services PMI of Eurozone and UK, plus China’s March CPI and PPI.
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