Mr. Kitpon Praipaisarnkit, Senior Executive Vice President at UOB Kay Hian Securities (Thailand), stated that the Stock Exchange of Thailand (SET) Index closed the morning session lower by 0.35%, or 5.21 points, at 1,475.03 points, since the upside of the index and many stocks has become limited after the SET Index climbed more than 230 points continuously.
Although fund inflows remain robust, profit upgrades across many listed company groups are still limited. This has caused investors to become more cautious and undertake profit-taking to manage short-term volatility.
Over the past two days, foreign factors have weighed on markets, with stock markets slowing due to concerns that AI risks may impact several industries, such as cyber security and payment groups, resulting in a decline in these stocks. In the short term, the international investment atmosphere also rotated away from technology stocks—which previously attracted considerable inflows.
As current growth prospects are seen as slowing and valuations are high, investors have increased caution, diversifying their investments into other sectors and assets. This benefits the Thai stock market, but as the SET Index has risen significantly, investors are also becoming more cautious in the short term.
Tomorrow, attention will be on the Monetary Policy Committee (MPC) meeting and ongoing U.S.-Iran negotiations, which will affect energy stocks.
The afternoon outlook is expected to see the market oscillate downward, with buying momentum slowing as investors await clarity on EPS adjustments for Thai stocks and their fair value. The first support level is set at 1,466 points, the next at 1,455 points, and the resistance at 1,478 points.
The top five securities by trading value in the morning session are as follows:
- Kasikornbank PCL (SET: KBANK): Trading value THB 3.49 billion, closed at THB 199.00 per share, down THB 2.00 or 1.00%.
- CP All PCL (SET: CPALL): Trading value THB 3.36 billion, closed at THB 50.50 per share, down THB 0.75 or 1.46%.
- PTT PCL (SET: PTT): Trading value THB 3.08 billion, closed at THB 36.75 per share, up THB 0.25 or 0.68%.
- Airports of Thailand PCL (SET: AOT): Trading value THB 2.94 billion, closed at THB 51.75 per share, down THB 1.75 or 3.27%.
- Delta Electronics (Thailand) PCL (SET: DELTA): Trading value THB 1.81 billion, closed at THB 245.00 per share, down THB 3.00 or 1.21%.
