Thai stocks rebound this morning in line with global markets on positive US-Iran news, potential Hormuz Strait reopening
MacroGeopoliticsCommodity
The Thai stock market is expected to edge higher this morning, tracking global markets after the Dow Jones and S&P 500 closed at new highs and Asian shares opened in positive territory. Sentiment was boosted by progress in talks between the United States and Iran that could lead to the reopening of the Strait of Hormuz soon. Declining crude oil prices and a pullback in US bond yields helped ease inflation pressure, supporting the investment climate. Ms. Waraporn Wiboonkanarak, Assistant Managing Director of the Research Division at Krungthai XSpring Securities, set resistance at 1,630 to 1,635 points and support at 1,605 to 1,610 points.
