Mr. Therdsak Thaveeteeratham, Managing Director of Asia Plus Securities, stated that the Stock Exchange of Thailand (SET) Index closed the morning session lower by 1.91%, or 29.19 points, at 1,499.07 points, in line with other stock markets in the Asian region.
The market continues to be pressured by escalating tensions in the Middle East after the United States and Israel launched attacks on Iran, with no negotiations taking place yet. There is additional news regarding the closure of the Strait of Hormuz.
These factors have prompted investors to sell off risk assets and shift towards safe-haven assets during the prevailing uncertainty in the Middle East. As a result, most stocks today have faced strong selling pressure, weighing down the index and causing the Thai stock market to drop sharply this morning.
For the afternoon outlook, movements are expected to remain in negative territory, with support at 1,490 points and resistance at 1,520 points.
The top five securities by trading value in the morning session are as follows:
- Gulf Development PCL (SET: GULF): Trading value THB 4.17 billion, closed at THB 58.75 per share, down THB 3.25 or 5.24%.
- PTT Exploration and Production PCL (SET: PTTEP): Trading value THB 3.85 billion, closed at THB 139.50 per share, up THB 2.50 or 1.82%.
- True Corporation PCL (SET: TRUE): Trading value THB 3.82 billion, closed at THB 14.00 per share, down THB 0.50 or 3.45%.
- Delta Electronics (Thailand) PCL (SET: DELTA): Trading value THB 3.16 billion, closed at THB 282.00 per share, up THB 3.00 or 1.08%.
- Advanced Info Service PCL (SET: ADVANC): Trading value THB 2.93 billion, closed at THB 369.00 per share, down THB 11.00 or 2.89%.
