UOB Kay Hian analyst Thanawat Thangchadakorn said Thai banks' Q3 loan growth may be flat QoQ as lenders remain cautious and focus on corporate lending. Covered banks' credit costs may fall YoY and QoQ; many banks booked special provisions in Q1 to buffer risks from the Middle East conflict, and those pressures have not shown up in H1 earnings. Expectations of Fed rate hikes could be positive for major Thai banks. UOB Kay Hian retains an overweight on the Thai banking sector.

On Wednesday the Baltic Dry Index (BDI) eased 2 points (-0.06%) to 3,430, led by a decline in capesize rates. The Baltic Capesize Index (BCI) fell 31 points (-0.5%) to 5,861; capesize average daily earnings decreased $286 to $49,652. The Panamax Index (BPI) rose 34 points (1.5%) to 2,333, lifting Panamax average daily earnings by $309 to $20,996. The Supramax Index (BSI) ticked up 2 points (0.1%) to 1,778.

A draft government document shows Russia has downgraded gas production and export forecasts amid the Russia-Ukraine conflict and an EU plan to stop buying Russian gas from next year. The draft projects gas production this year at 683.1 bcm, 5.3 bcm below the May forecast but still above 2025's 662.7 bcm. Sea-borne LNG exports are forecast to rise to 35.0 mln t this year from 30.3 mln t in 2025, but remain 5.3 mln t below earlier projections. The document says LNG exports will continue to grow in coming years but at a slower pace than previously expected; these assumptions will be used to update the federal budget through 2029. Earlier this month Russia cut 2026 oil-output guidance to a 17-year low and revised this year and next year's fuel export outlook due to the conflict.