Thai Stock Market Tumbles Amid Fears of Nuclear Catastrophe

Strategic Insights -

The Thai stock market followed regional markets in dropping yesterday morning after Russia's attack on Ukraine's Zaporizhzhia nuclear power plant sparked fears of a nuclear catastrophe. The SET Index plummeted 1.44% to close at 1,671.72. Amidst the market's volatility, Asia Plus Securities (ASPS) advised investors to capture high returns by investing in weaponry stocks, particularly those involved in international markets. The brokerage named Lockheed Martin (LMT US), Boeing (BA US), Northrop Grumman (NOC US), Leidos Holdings (LDOS US), General Dynamics (GD US), and Raytheon Technologies (RTX US) as potential high-growth stocks.

Key Takeaways:

  • The Thai stock market's SET Index dropped 1.44% to close at 1,671.72 following Russia's attack on Ukraine's Zaporizhzhia nuclear power plant.
  • Asia Plus Securities (ASPS) recommended investing in weaponry stocks, including Lockheed Martin (LMT US), Boeing (BA US), and Raytheon Technologies (RTX US).
  • iShares US Aerospace and Defense (ITA US) has US$2.6 billion in assets under management and holds a 22% stake in RTX US and an 18% stake in BA US.
  • The Nikkei 225 Index opened at 26,421.85 points, down 155.42 points or 0.58%, while the Hang Seng Index opened at 21,879.13 points and fell 588.21 points, or 2.62%.
  • Animal food businesses have been affected by the Russia-Ukraine war, with domestic stocks such as Charoen Pokphand Foods (CPF) and Thai Union Group (TU) suffering from higher raw material costs.

Statistics:

  • SET Index downturn: 1.44%
  • Closing value: 1,671.72
  • Nikkei 225 Index opening value: 26,421.85
  • Nikkei 225 Index closing value: 26,266.43
  • Nikkei 225 Index decrease: 155.42 points (0.58%)
  • Hang Seng Index opening value: 21,879.13
  • Hang Seng Index closing value: 21,290.92
  • Hang Seng Index decrease: 588.21 points (2.62%)
  • Assets under management of iShares US Aerospace and Defense (ITA US): US$2.6 billion
  • Stake of iShares US Aerospace and Defense in RTX US: 22%
  • Stake of iShares US Aerospace and Defense in BA US: 18%

Sources:

  • Asia Plus Securities (ASPS)
  • Yuanta Securities
  • CGS-CIMB Securities
  • Bloomberg
  • Reuters