Bangkok: Thai stocks closed the morning session up 20.93 points. The Stock Exchange of Thailand (SET) closed this morning at 1,511.33 points, an increase of 20.93 points (+1.40%), with a trading value of approximately 46,986 million baht.

According to Thai News Agency, analysts have noted that the Thai stock market has reached a new high in 2 years and 6 months. This surge is attributed to positive factors both within Thailand and from international influences. A significant factor contributing to the stock market's rise is the lifting of retaliatory tariffs against the US, which has benefited the Asian market and spurred buying in the petrochemical sector.

The nearing completion of the formation of the new government in Thailand has also played a crucial role in this upward trend. This political stability has led to a strong surge in Board of Investment (BOI) approvals, which is anticipated to drive significant investment into the industrial estate, telecommunications, and power plant sectors.

In light of these developments, Krungsri has revised its SET target to 1,600 points from the previous 1,475 points. The market is expected to continue its upward trajectory this afternoon, with key resistance anticipated at 1,520 points and support at 1,500 points.