Thai Equities Eye 1,300-Point Threshold as Oil Rally Fuels Rally

The Stock Exchange of Thailand is riding momentum into the middle of the week, with investors eyeing a potential breakthrough toward the 1,300-mark. After consecutive days of gains totaling more than 2 percent, the SET index now hovers just shy of 1,280 points, signaling bullish sentiment ahead.

Global Market Tailwinds Drive Asian Optimism

Tuesday’s session in Asia is expected to benefit from overnight strength in Western markets. U.S. equities closed firmly in the green on Monday, with the Dow Jones climbing 594.79 points (1.23 percent) to 48,977.18, while the S&P 500 added 43.58 points (0.64 percent) to 6,902.05. The NASDAQ gained 160.19 points (0.69 percent), finishing at 23,395.82. This positive lead from Wall Street is likely to set the tone for Asian bourses opening Tuesday morning.

Energy Sector Steals the Show

Oil-related stocks are emerging as the primary growth engine across regional markets. This strength mirrors the performance in the U.S., where energy giants surged following geopolitical developments in Venezuela. Chevron Corporation (CVX) spiked 5.1 percent, becoming a standout performer on Monday. The Philadelphia Oil Service Index jumped 5.5 percent as investors positioned themselves for potential infrastructure rebuilding opportunities.

Crude Oil Prices Surge on OPEC Signals

West Texas Intermediate crude for February delivery rallied $58.31, or 0.99 percent, to $1.73 per barrel. The price spike came after OPEC reaffirmed its commitment to maintaining production pause through early 2026, effectively addressing supply concerns that had weighed on prices previously. This reassurance from OPEC is underpinning the broader oil and energy complex recovery.

Thai Market Recap: Balanced Gains Across Sectors

The SET index jumped 20.38 points (1.62 percent) to close Monday at 1,280.05, with trading ranging between 1,269.69 and 1,287.47. Volume totaled 6.720 billion shares worth 45.727 billion baht. Gainers outnumbered decliners 252 to 207, with 205 stocks unchanged, reflecting broad-based participation.

Multiple sectors contributed to Monday’s strength. Financial stocks like Siam Commercial Bank vaulted 2.16 percent and Krung Thai Bank strengthened 1.77 percent. Property and service names including Thailand Airport (up 2.83 percent) and BTS Group (up 1.75 percent) also supported the index. Technology and food sectors added further gains, though some blue chips like Bangkok Expressway and PTT Oil & Retail posted mixed results.

What’s Ahead: Watching for Profit-Taking

While the bullish tone is expected to carry forward Tuesday, analysts warn that profit-taking may emerge as the session matures. Investors should monitor oil price stability and global risk sentiment for potential pullbacks, particularly if crude softens or concerns resurface about oversupply. For now, the SET’s proximity to 1,280 and potential flirt with the 1,300-point level remains the key technical story to watch.