Asia Plus flags three global war risks driving oil surge, with fund flows shifting 44 billion baht into Thai stocks

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Summary · why it matters

Asia Plus Securities assesses that global financial markets are under pressure from three key risk factors: Middle East tensions pushing Brent crude to 89 dollars per barrel, a trade war with the United States preparing to impose 50 percent import tariffs on certain Canadian goods, and a technology war after Chinese startup MOONSHOT AI launched its KIMI K3 model, which delivers performance close to top US models but at lower cost. This has triggered capital outflows from high-growth and AI sectors into oil, value, and high-dividend plays. The Thai stock market has become a safe-haven destination, attracting net foreign inflows of over 44 billion baht since the start of July, concentrated in communications, energy, and banking stocks such as TRUE, PTTEP, KBANK, TOP, BBL, and GULF. Asia Plus also warns that Thailand may post a trade deficit of around 4 billion dollars in June, as imports surged 35.8 percent year on year while exports grew only 15.2 percent year on year, lagging neighbors like South Korea, Taiwan, Vietnam, and China. On investment strategy, Asia Plus recommends top picks SCGP, PTTEP, and TIDLOR, while keeping an eye on eight Chinese depositary receipts: TENCENT80, BABA80, MEITUAN80, NETEASE80, XPENG03, GEELY80, KUAISH23, and XIAOMI80, as well as second-quarter earnings reports from US big tech led by TESLA and ALPHABET.

Impact on stocks 11

Energy Transition & Power Demand± Mixed · 3 stocks
Tesla Inc
TSLA
▼ NegativeTechnologyrelevance

Capital outflows from high-growth and AI sectors into oil and value plays, impacting Tesla as a high-growth stock.

Financials▲ · 2 stocks
Artificial Intelligence▼ · 2 stocks
Alphabet Inc Class C
GOOG
▼ NegativeTechnologyrelevance

Chinese startup MOONSHOT AI's KIMI K3 model threatens US AI dominance, causing capital outflows from AI sectors.

Energy▲ · 1 stocks
Cloud & Digital Infrastructure▲ · 1 stocks
Digital Finance & Tokenization▲ · 1 stocks
Bangkok Bank PCL
BBL
▲ PositiveCapitalrelevance

Thai stocks attract net foreign inflows of 44 billion baht, with banking stocks like BBL benefiting as safe-haven plays.

Materials▲ · 1 stocks

Theme Impact 3

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