• The Thai stock market surged early in the week before gradually declining during the remainder of the week.
The SET Index rose early in the week contrary to the overall downward trend seen in other regional bourses, mainly supported by clarity on domestic political issues after the Office of the Election Commission of Thailand (OECT) set the general election date on February 8, 2026. Such news spurred buying across all sectors, led by technology and energy stocks. However, the SET Index later retreated amid selling pressure primarily from domestic institutional investors, especially stocks of a major electronic component manufacturer, following the decline in US technology stocks. This was coupled with a lack of new factors to support the market.
The SET Index continued to fall following the BOT’s MPC meeting. Although the MPC cut the policy rate as expected, it signaled that Thailand’s economy is likely to slow down in 2026–2027, triggering profit-taking in several sectors. Nevertheless, the SET Index partially recovered at the end of the week in line with other regional bourses after US November inflation data came in lower than expected, leading markets to anticipate further Fed Funds rate cuts.
• On Friday, December 19, 2025, the SET closed at 1,252.19 points, down 0.15% over-week. The average daily trading value was THB34,035.41 million, up 5.59% over-week. The mai closed at 212.85 points, up 0.57% over-week.
• December 22-26, 2025, KSecurities expects the SET to have support at 1,240 and 1,230 points, but resistance at 1,275 and 1,285 points, respectively. KResearch advises investors to watch key factors, including Thailand’s November Exports and foreign capital flows. The US economic data that warrant close monitoring include GDP report for 3Q-2025, October Durable Goods Orders and Industrial Production, and Weekly Jobless Claims. Other important overseas economic indicators to monitor include UK’s GDP report for 3Q-2025 and Japan’s November Industrial Production and Retail Sales.
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