The Stock Exchange of Thailand fell sharply on Monday as the escalating conflict in the Middle East pushed global oil prices above US$100 a barrel.
The SET index dropped 55.96 points, or 3.97%, to 10.05am trading, reflecting a broad sell-off that mirrored declines across regional markets.
PTT Exploration and Production was the only major stock to post gains, rising 3 baht, or 2.21%, to 144.50. Most other blue-chip shares opened lower.
Among the biggest losers, Kasikornbank fell 7.50 baht, or 3.99%, to 180.50. Delta Electronics declined 22 baht, or 8.63%, to 233, while Gulf Development dropped 3.50 baht, or 6.25%, to 52.50.
The slump in Thai equities tracked losses across Asian markets as investors sold risk assets amid concerns over rising oil prices and the intensifying US-Israel conflict with Iran, which has entered its second week with no clear resolution in sight.