Economy US-Iran Tensions Plunge Thai Stocks to Historic Lows

[snoop1130]

Picture courtesy of Bangkok Post

 

Global markets are reeling after a US military strike on Iran triggered fears of escalating Middle East conflict. The Stock Exchange of Thailand (SET) took a hit, with stocks slumping to their lowest since the Covid-19 crash in 2020.

 

On June 23, Thai stocks fell 1.3%, closing at 1,053.79. As oil prices surged, SET officials stepped in with emergency measures to stabilise the market. From June 23 to 27, price limits for certain stocks and securities will be halved, while dynamic price bands will be reduced.

 

SET President Asadej Kongsiri stated that these precautions aim to curb volatility and can be lifted if the market stabilises. He assured that the broader regional impact was less severe than anticipated, urging calm among investors.

 

Daol Securities analysts warned of potential retaliation from Iran, which could disrupt oil flow through the Strait of Hormuz, risking a spike in crude oil prices. They noted potential gains for energy sectors, but highlighted challenges for industries like tourism and retail due to rising costs.

 

Finance Minister Pichai Chunhavajira stressed the strength of Thailand’s economy, promising government vigilance in managing the situation. The stabilisation steps are meant to maintain market stability, not restrict investment.

 

As tensions remain high and oil prices fluctuate, Thai equities are expected to stay volatile in the near term.

 

Meanwhile, the legality of the US strike is under scrutiny. Without solid evidence of an imminent threat, the action may breach international law, drawing widespread condemnation.

 

  Adapted by ASEAN Now from The Thaiger 2025-06-24

 

 

[ukrules]

Right, I'm sure this is nothing to do with the massive amount of stability inside Thailand right now 🙄

[thesetat]

11 minutes ago, ukrules said:

Right, I'm sure this is nothing to do with the massive amount of stability inside Thailand right now 🙄

It is always easier to blame someone else.. 

[angryguy]

Does anyone here actually own any thai stocks?

 

the US stock market is just fine

[redwood1]

And Yet the Thai Baht is as strong as ever.....The Thai baht one day will crash hard... Very hard and it will fall for decades, it is a certainty...

[hotchilli]

13 hours ago, ukrules said:

Right, I'm sure this is nothing to do with the massive amount of stability inside Thailand right now 🙄

Paetongtarn will have the answer... a Wai and a smile

[shackleton]

Tourist numbers matter more to the Thai government as it  effects businesses hotels  restaurants bars sex industry jobs ect 

Only the rich worry about stock Markets 😱

 

[spidermike007]

The Ukrainian and Israeli wars were already a huge drag on the world economies and a cautionary tale that affected consumer confidence and tourism worldwide, and now we have the possibility of another war from the "no new wars president", one that could last 20 years and cost the US trillions of dollars. I believe it was a huge mistake for the US to drop those bombs, many analysts are saying that they destroyed the tunnel entrances and nothing more and that virtually all the enriched uranium has been moved well in advance.

 

So it's quite possible they resulted in nothing but of a war leading to multiple terror events within the US over rje coming years. Iran is a far greater adversary than Iraq or Afghanistan, that should not be forgotten.