Thai stocks under pressure

SET declines amid Middle East fighting

The Stock Exchange of Thailand (SET) is facing fresh sell-off pressure, with the index falling close to a key resistance level of 1,430 points on Monday, due to rising global geopolitical risk amid the escalating conflict between Israel and Hamas, according to an analyst.

Global risk-off mode continues to dominate equities following a sharp market loss on Friday, when sustained high bond yields triggered further selling pressure in interest rate sensitive counters in finance and utilities, said Rakpong Chaisuparakul, senior vice-president of KGI Thailand Research at KGI Securities (Thailand).

“The latest fighting…