Could Thailand's SET Index Break Through 1,300 Amid Global Oil Momentum?

The Thai stock market is flashing bullish signals, having rallied over 25 points (2 percent) across consecutive sessions. With the Stock Exchange of Thailand now hovering just above 1,280 points, traders are eyeing whether the index can push toward the 1,300 level. Tuesday’s opening is expected to extend the uptrend, buoyed by strength in global oil markets and positive momentum from overseas exchanges.

Monday’s Rally: Which Sectors Led the Charge?

The SET delivered a solid performance on Monday, climbing 20.38 points (1.62 percent) to close at 1,280.05. The move was broad-based, with gains spread across food, finance, property, service and technology stocks. Volume clocked in at 6.720 billion shares valued at 45.727 billion baht, while gainers outnumbered decliners 252 to 207.

Individual stocks reflected the positive sentiment: Advanced Info jumped 2.56 percent, Thailand Airport climbed 2.83 percent, while Bangkok Bank gained 1.47 percent and Siam Commercial Bank vaulted 2.16 percent. Energy plays also participated, with PTT Oil & Retail expanding 1.50 percent, though PTT itself eased 0.78 percent. The standout performer was Siam Concrete, which soared 3.54 percent, followed by Thai Oil rallying 3.47 percent and True Corporation accelerating 3.67 percent.

What’s Driving the Upside? Global Markets and Oil

The rally in Thai equities mirrors strength across Asian and Western bourses. On Monday, Wall Street delivered firm gains - the Dow jumped 594.79 points (1.23 percent) to 48,977.18, while the S&P 500 added 43.58 points (0.64 percent) and the NASDAQ gained 160.19 points (0.69 percent).

The catalyst? Energy. Chevron surged 5.1 percent after U.S. geopolitical developments boosted oil sector confidence, particularly regarding Venezuela’s oil infrastructure recovery potential. This sparked a 5.5 percent surge in the Philadelphia Oil Service Index. Crude oil itself responded sharply, with West Texas Intermediate for February delivery climbing $0.58 to $1.73 per barrel on the back of OPEC reaffirming production increase pauses through early 2026.

The Road Ahead: Can Thai Stocks Hold the Momentum?

While the setup looks encouraging for Tuesday, traders should watch for profit-taking as the session progresses. The combination of positive U.S. earnings, OPEC production discipline, and renewed oil sector enthusiasm could provide enough tailwind to push the SET toward that elusive 1,300 level. However, the December ISM manufacturing weakness serves as a reminder that economic headwinds still exist globally - something to monitor alongside the optimistic oil narrative.