The Baht weakened to its lowest level in three and a half months while the SET closed near last week’s level

•    The Thai stock market fluctuated before declining towards the end of the week.
The SET Index fell early in the week, in line with other bourses, amid ongoing concerns over the unresolved tensions in the Middle East. This prompted investors to sell off large-cap stocks across all sectors (led by petrochemical companies). The SET Index later rebounded, supported by news reports of the G7’s discussion over a possible joint release of oil reserves, as well as comments from the US President indicating that the war with Iran could end soon.
However, the upside for the SET Index became limited around midweek after reports that cargo ships were attacked in the Strait of Hormuz. It then surged again as domestic political developments became clearer, leading the market to expect that a new government could be formed soon. Nonetheless, the SET Index declined towards the end of the week in line with other regional bourses, as ongoing tensions in the Middle East remained elevated, with no immediate signs of de-escalation. Most recently, Iran’s new leader vowed to keep blocking the Strait of Hormuz.

 
•    On Friday, March 13, 2025, the SET closed at 1,409.35 points, down 0.07 percent over-week. The average daily trading value was THB70,826.26 million, down 35.89 percent over-week. The mai closed at 218.06 points, down 0.02 percent over-week.
•    During March 16-20, 2026, KSecurities expects the SET to have support at 1,390 and 1,360 points, but resistance at 1,430 and 1,460 points, respectively. KResearch advises investors to watch key factors, including the FOMC meeting (March 17-18), Middel East conflict, domestic political issues, and foreign capital flows. US economic data that warrants close monitoring includes February Industrial Production and PPI, January New Home Sales, plus weekly jobless claims. Other important overseas economic indicators to monitor include the upcoming BOJ and BOE meetings, Eurozone’s February CPI, plus China’s March LPR and January-February economic data such as Retail Sales, Fixed Asset Investment and Industrial Production.