SET Morning Session Plunges Below 1,600 Points on Tech Sell-Off and Widening War

Price ActionGeopoliticsMacro Impact 4

โดย Kaohoon·Read original

Summary · why it matters

The Stock Exchange of Thailand morning session tumbled below the 1,600-point level to 1,595.24 points, down 29.23 points or 1.80 percent, with trading value at 20.90 billion baht. Selling pressure on Delta Electronics and the electronics sector was the main drag, along with pressure from anti-commodity stocks like Indorama Ventures and PTT Global Chemical. Meanwhile, the Middle East conflict has expanded to Saudi Arabia and Iraq, making peace negotiations more difficult. The yield on the 30-year US Treasury bond surged to 5.2 percent, its highest since the subprime crisis, and the market expects the Federal Reserve may raise rates another one to two times in the second half of this year. However, sharply rising oil prices helped support energy and petrochemical stocks, preventing the market from falling much deeper.