SET Breaks the 1,550 Resistance as the Energy-Banking Sector Drive the Market

SET Index surpassed the 1,550 resistance level to 1,552.05 as of 11:55 local time in Thailand on Friday, buoyed by the surge in the energy sector and the banking sector has an impact on the index by 35% and 25%, respectively.

The unexpected jump in the Thai stock market came after a spike of oil prices since last night, pushing the international benchmark Brent Crude to $67.44 per barrel and WTI to $64.44 per barrel in response to the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+)’s agreement to extend most oil output cuts into April.