FX.co ★ Lower Open Anticipated For Thai Stock Market

### Thai Stock Market Breaks Losing Streak; Geopolitical Tensions Loom

The Thai stock market ended a four-day losing streak on Tuesday, rebounding nearly 15 points or 1 percent. The Stock Exchange of Thailand (SET) now sits just below the 1,465-point level, and analysts predict further consolidation on Wednesday.

#### Global Market Outlook

The global forecast for Asian markets is currently negative, influenced by escalating geopolitical tensions in the Middle East. While European markets presented a mixed performance, U.S. markets closed in the red, suggesting a similar downturn for Asian markets.

#### Performance of SET

On Tuesday, the SET posted significant gains across several sectors, including food, consumer, finance, industrial, property, resource, service, and technology. The index rose 15.83 points or 1.09 percent to close at 1,464.66, fluctuating between 1,449.64 and 1,468.14 throughout the trading session. Trading volume was substantial, with 8.178 billion shares worth 52.609 billion baht exchanging hands. Market breadth was positive with 366 gainers, 135 decliners, and 166 stocks remaining unchanged.

#### Notable Performers

Several key stocks showed considerable movements:

- **Advanced Info:** +2.31%

- **Thailand Airport:** +1.17%

- **Asset World:** +1.59%

- **Bangkok Bank:** +1.66%

- **Bangkok Dusit Medical:** +1.67%

- **Bangkok Expressway:** +0.61%

- **B. Grimm:** +2.92%

- **BTS Group:** +1.33%

- **Charoen Pokphand Foods:** +0.83%

- **Energy Absolute:** +1.68%

- **Gulf:** +1.32%

- **Kasikornbank:** +1.33%

- **Krung Thai Bank:** +0.97%

- **Krung Thai Card:** +0.51%

- **SCG Packaging:** +4.31%

- **Siam Commercial Bank:** +0.92%

- **Siam Concrete:** +1.24%

Stocks like PTT (-0.74%), Thai Oil (-0.49%), and TTB Bank (-0.51%) experienced slight dips, while others such as True Corporation, Banpu, PTT Oil & Retail, PTT Exploration and Production, and CP All Public closed unchanged.

#### Wall Street Influence

The U.S. markets provided a negative lead, with major indices opening lower and maintaining downward momentum throughout the session:

- **Dow Jones:** -173.18 points (-0.41%) to 42,156.97

- **NASDAQ:** -278.81 points (-1.53%) to 17,910.36

- **S&P 500:** -53.73 points (-0.93%) to 5,708.75

Wall Street's decline was primarily driven by rising tensions in the Middle East. The situation intensified after Iran launched a ballistic missile attack on Israel, claiming it was in retaliation for the killing of Hezbollah leader Hassan Nasrallah and other figures in recent Israeli airstrikes. Early indications of the attack contributed to the initial sell-off in stocks.

The geopolitical strife overshadowed other economic reports, including continuous contraction in U.S. manufacturing activity for September and an unexpected rise in U.S. job openings for August.

#### Oil Market Reaction

Oil prices saw an uptick on Tuesday amid concerns over potential supply constraints following the escalation in the Middle East. West Texas Intermediate Crude oil futures for November rose by $1.66, or nearly 2.5 percent, closing at $69.83 per barrel.