Thai Stocks Eye Higher Ground as Oil Prices Plunge Amid Easing Geopolitical Tensions
InnovestX Securities' Equity and Digital Asset Strategist, Mr. Pobchai Phatrawit, expects the Thai stock market to move sideways-up.
The easing of Middle East tension, following the US's indication of a willingness to re-enter negotiations with Iran, has led to a decline in oil prices, both WTI and Brent.
OPEC+ has resolved to increase oil production quotas for September, placing further constraints on a recovery in oil prices. As a result, InnovestX believes there is room for the SET Index to move higher today, supported by falling oil prices and reduced geopolitical risks.
Among Thai listed companies that have already reported their 2Q26 financial results, both total sales and profits have exceeded market expectations, with profits coming in nearly 6% above estimates.