Mr. Watan Jitsomnuk, Director of Strategy Analysis of Pi Securities, stated that the Stock Exchange of Thailand (SET) Index saw a sharp decline by 7.81 points to 1,292.66 points this morning, contrary to most regional markets which moved in positive territory. The Thai market was pressured by the disclosure of listed companies’ earnings that fell short of expectations, especially in the Domestics Play segment aligning with the overall economic situation.
SET Index was dragged down by heavy selling in retail stocks, such as CP Axtra PCL (SET: CPAXT), after reporting lower-than-expected results, which in turn impacted CPALL as well. Meanwhile, the Non-Bank group, despite reporting solid earnings growth, began to experience sell-on-fact pressure as results met prior expectations.
Delta Electronics (Thailand) PCL (SET: DELTA) shares continued to weigh down the index due to increasingly expensive share prices, while the petrochemical sector saw continued profit slowdowns. In the afternoon session, the index is expected to remain in negative territory, giving a support range of 1,285 points and resistance at 1,300 points.
The top five securities by trading value are as follows:
- Bangkok Dusit Medical Services PCL (SET: BDMS): Trading value THB 1.46 billion, closed at THB 18.80 per share, up THB 0.30.
- SCB X PCL (SET: SCB): Trading value THB 1.32 billion, closed at THB 127.50 per share, down THB 1.00.
- CP All PCL (SET: CPALL): Trading value THB 1.12 billion, closed at THB 43.75 per share, down THB 1.25.
- Advanced Info Service PCL (SET: ADVANC): Trading value of THB 833.17 million, closed at THB 316.00, unchanged.
- Kasikornbank PCL (SET: KBANK): Trading value of THB 662.98 million, closed at THB 181.50 per share, up THB 0.50.
