Stocks Dip: Middle East War Fears Resurface, Iran Attacks Hormuz Strait Vessel

MGR Online•Economy•8d ago

Reader Briefing

Thai stocks are predicted to move sideways down, mirroring global markets due to renewed Middle East tensions and selling pressure on tech stocks.

•The Thai stock market (SET.X) is expected to trade sideways down.
•This trend is influenced by declining international markets.
•Renewed concerns over the Middle East situation, specifically Iran's attack on a vessel in the Strait of Hormuz, are a key factor.
•Selling pressure on technology stocks continues, impacting related Thai equities.

Overview

•International stock markets have declined, influencing the Thai market.
•Renewed concerns over the Middle East situation, following Iran's attack on a vessel in the Strait of Hormuz, are pressuring markets.
•The increase in crude oil prices as a result of the Middle East tensions will pressure the stock market.
•Persistent selling sentiment in the technology stock sector is a continued negative factor.
•Stocks related to the technology sector in the Thai stock market will be affected by this sentiment.
•The market awaits the disclosure of US Federal Reserve (Fed) meeting minutes.
•Resistance levels are projected at 1,610-1,615 points.
•Support levels are projected at 1,590-1,595 points.

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Key Quotes

Varaporn Vibulkulnaruk

"The Thai stock market trend today is expected to swing sideways down, following international stock markets which have adjusted downwards, after renewed concerns about the tense situation in the Middle East."

แนวโน้มตลาดหุ้นไทยวันนี้คาดว่าแกว่งไซด์เวย์ดาวน์ ตามทิศทางตลาดหุ้นต่างประเทศที่ปรับตัวลง หลังจากกลับมากังวลเกี่ยวกับสถาการณ์ตึงเครียดในตะวันออกกลางอีกครั้ง

Key Entities

Organization

SET.X

The stock market index of Thailand.

Krungthai Xspring Securities(บล.กรุงไทย เอ็กซ์สปริง)

Securities firm providing market analysis.

US Federal Reserve (Fed)(ธนาคารกลางสหรัฐ (เฟด))ℹ️

Central banking system of the United States, whose meeting minutes are awaited.

Place

Middle East(ตะวันออกกลาง)ℹ️

Region experiencing renewed geopolitical tensions.

Strait of Hormuz(ช่องแคบฮอร์มุซ)ℹ️

Strategic waterway where Iran attacked a vessel.

Iran(อิหร่าน)ℹ️

Country that attacked a vessel in the Strait of Hormuz.

Person

Varaporn Vibulkulnaruk(นางสาววราภรณ์ วิบูลคณารักษ์)

Assistant Managing Director, Research Division at Krungthai Xspring Securities.