The Thai stock market closed the morning session at 1,622.23 points, up 12.45 points or 0.77 percent, with trading value around 38.5 billion baht. It was supported by positive sentiment after Middle East tensions eased, following news that Iran and Oman are close to reaching an agreement to open the Strait of Hormuz. In addition, Thailand's inflation came in lower than expected, reducing the likelihood of a near-term rate hike, and the strengthening baht supported buying in large-cap stocks. Mr. Chaiporn Nompitakcharoen, Managing Director of Securities Trading at Bualuang Securities, said the afternoon trend is expected to see the market fluctuate in positive territory, with resistance at 1,630 points and support at 1,610 points.
Easing Middle East tensions and lower-than-expected inflation reduce safe-haven demand for USD and rate hike odds, strengthening THB.
Market up on easing tensions and lower inflation, boosting trading activity and sentiment for securities firms.
