Middle East Tensions & US Tariffs Impact Thai Stocks

MGR Online•Economy•11d ago

Reader Briefing

Thai stock market anticipates volatility due to renewed Middle East conflict and potential US import tariffs, with domestic stimulus measures offering some support.

•The Thai stock market is expected to fluctuate downwards amid escalating tensions in the Middle East.
•The US is reportedly considering imposing import tariffs of 10-12.5% on goods from several countries, including Thailand.
•Domestic measures like the 'Thai Help Thai Plus' program are seen as positive for consumption-related stocks.
•Support levels for the Thai index are at 1,580 and 1,570 points, with resistance at 1,600 points.

Overview

•Market sentiment is negatively impacted by renewed tensions in the Middle East.
•Recent reported attacks between the US and Iran have caused oil prices to rise, benefiting upstream energy stocks.
•The Thai market is also pressured by news of potential US import tariffs of 10-12.5% under Section 301.
•These tariffs are being considered as a replacement measure following a US Supreme Court ruling.
•The tariff issue is considered neutral for now, allowing for clarification or negotiation with trade partners.
•The 'Thai Help Thai Plus' spending program is receiving positive public response.
•The domestic program is viewed as a positive for consumption-related stocks, particularly retail and financial businesses.
•The SET Index faces support at 1,580 points and resistance at 1,600 points.

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Key Entities

Person

Mr. Apichart Phoobunjerdkul(นายอภิชาติ ผู้บรรเจิดกุล)

Senior Director of Strategic Analysis at TISCO Securities

Organization

TISCO Securities(บล.ทิสโก้)ℹ️

Financial institution providing market analysis.

US Supreme Court(ศาลฎีกาของสหรัฐฯ)ℹ️

Judicial body that made a ruling impacting US trade policy.

Place

United States(สหรัฐฯ)ℹ️

Country issuing potential import tariffs and involved in Middle East conflict.

Iran(อิหร่าน)ℹ️

Country involved in Middle East conflict and targeted by US actions.

Kuwait(คูเวต)ℹ️

Country reportedly attacked by Iran, contributing to Middle East tensions.

Strait of Hormuz(ช่องแคบฮอร์มุซ)ℹ️

Key maritime chokepoint whose closure is expected to continue due to Middle East conflict.

Law

Section 301(มาตรา 301)ℹ️

US trade law under which import tariffs are being considered.

Policy

Thai Help Thai Plus(ไทยช่วยไทย พลัส)

Domestic economic stimulus program with a positive public reception.