Thailand's SET Index Edges Toward the 1,300 Milestone Amid Global Market Rally

Riding on positive momentum from major international markets, the Thai stock market is approaching the psychologically significant 1,300-point level. The Stock Exchange of Thailand (SET) now sits comfortably above 1,280 points after two consecutive days of gains totaling more than 25 points, representing a 2 percent appreciation. Market participants anticipate a bullish opening on Tuesday, though late-session profit-realization may temper some of the upside momentum.

Global Markets Provide Strong Tailwinds

The broader Asian market landscape appears decidedly optimistic, with energy-related stocks positioned to lead the charge. U.S. and European bourses closed in positive territory, setting a constructive tone for Asian trading floors to follow a similar pattern.

On Wall Street, investors embraced equities with enthusiasm on Monday. The Dow Jones Industrial Average surged 594.79 points, a 1.23 percent gain closing at 48,977.18. The technology-heavy NASDAQ advanced 160.19 points or 0.69 percent to settle at 23,395.82, while the S&P 500 climbed 43.58 points representing a 0.64 percent rise to 6,902.05.

Oil Sector Fuels Market Strength

The energy complex emerged as the primary driver of U.S. market performance. Chevron shares rocketed 5.1 percent as geopolitical developments in Venezuela sparked investor interest in oil sector reconstruction opportunities. Consequently, the Philadelphia Oil Service Index surged 5.5 percent amid expectations for substantial infrastructure rebuilding projects.

Crude oil itself became the session’s standout performer. Following OPEC’s announcement to maintain its production pause through early 2026, crude concerns about oversupply dissipated quickly. West Texas Intermediate crude for February delivery climbed $58.31 or 0.99 percent to reach $1.73 per barrel.

Thai Market Capitalizes on Upbeat Sentiment

The SET captured this positive global momentum decisively on Monday, closing substantially higher with contributions from diverse sectors. The index jumped 20.38 points, or 1.62 percent, finishing at 1,280.05. Intraday trading ranged between 1,269.69 and 1,287.47, with trading volume reaching 6.720 billion shares valued at 45.727 billion baht.

Breadth indicators reflected broad-based participation: 252 stocks advanced while 207 declined, with 205 issues remaining flat.

Individual Stock Performance

Leading gainers included True Corporation, which accelerated 3.67 percent, Siam Concrete soaring 3.54 percent, and Thai Oil rallying 3.47 percent. Thailand Airport climbed 2.83 percent, Siam Commercial Bank vaulted 2.16 percent, and TTB Bank jumped 1.98 percent.

Contributing sectors included food, finance, property, services, and technology. Notable performers encompassed Bangkok Bank collecting 1.47 percent, BTS Group improving 1.75 percent, Krung Thai Bank strengthening 1.77 percent, and PTT Oil & Retail expanding 1.50 percent.

Declining issues included Asset World dropping 0.94 percent, Bangkok Expressway skidding 0.93 percent, PTT slipping 0.78 percent, and PTT Exploration and Production declining 0.88 percent. SCG Packaging tumbled 1.75 percent, while Gulf lost 0.60 percent.

Several large-cap stocks registered no change: Charoen Pokphand Foods, Kasikornbank, Banpu, B. Grimm, and Energy Absolute all closed flat.

Economic Data and Market Outlook

The Institute for Supply Management’s December manufacturing reading revealed an unexpected contraction in U.S. production activity, though this headwind failed to derail market enthusiasm. Oil strength provided sufficient lift to keep sentiment buoyant.

Looking ahead, the Thai market appears positioned to flirt with the coveted 1,300-point zone as investors digest positive international signals and elevated crude prices. The coming sessions will test whether the SET can sustain its climb toward this technical milestone or encounter profit-taking resistance along the way.