China Galaxy: Prolonged and intense US-Iran conflict puts pressure on Thailand stock market profits.

Kasem Prunratanamala of China Galaxy International said that the prolonged US-Iran conflict has put pressure on the profitability of the Thai stock market. The analyst wrote in a research report that this pressure may be concentrated in industries such as transportation, tourism, retail, consumer finance, real estate, and contractors, reflecting external shocks and weakened domestic demand. The analyst stated that, on the other hand, the oil, gas, and petrochemical industries may benefit from rising energy prices, but government intervention in refining profit margins is a risk. Since the start of the conflict, China Galaxy International has lowered its forecast for Thailand's 2026 earnings per share growth from 8% to 1%. The brokerage has identified 13 companies as preferred stocks, including PTT, PTT Exploration & Production, and True.