On Wednesday, Thailand’s SET Index closed the morning trading session at 1,487.92 points, representing an increase of 7.72 points or 0.52%, with a trading value of THB 30.26 billion.
Mr. Kitphon Praipaisankij, Deputy Managing Director at UOB Kay Hian Securities (Thailand) (UOBKH), stated that the Thai stock market moved higher in the morning, supported by gains in sectors expected to benefit from escalating war tensions, including oil, refining, petrochemical, and power generation stocks.
Additional buying interest was also seen in banking equities, driven by speculation that the Bank of Thailand’s Monetary Policy Committee would keep the policy interest rate unchanged.
In the near term, investment flows have shifted toward stocks that could see upward earnings revisions from the impact of the Middle East conflict. Funds have also moved into safe-haven sectors such as power producers and real estate investment trusts (REITs), helping share prices gradually trend higher.
However, the brokerage noted that markets remain cautious, particularly among Domestic Play stocks, which may face pressure from the conflict and the risk of earnings downgrades. The tourism sector also faces a negative sentiment in the short term due to lower foreign tourist arrivals, rising travel costs, and reduced flight capacity from airlines.
For the afternoon session, UOBKH expects the Thai bourse to remain in positive territory. Investors are recommended to closely monitor the Bank of Thailand’s updated economic outlook, with potential downgrade to GDP growth projections in focus. Pressure would be deemed as already being priced in, should growth be revised to 1.4%-1.5%.
The brokerage sees support for the SET Index at 1,479 points and resistance at 1,490 points.
The five most actively traded stocks by trading value were as follows:
- PTT: trading value of THB 2.00 billion, closing at THB 35.50, up THB 0.25 or 0.71%
- AOT: trading value of THB 1.51 billion, closing at THB 50.75, down THB 1.75 or 3.33%
- TOP: trading value of THB 1.24 billion, closing at THB 49.00, up THB 2.75 or 5.95%
- DELTA: trading value of THB 1.20 billion, closing at THB 310.00, unchanged
- PTTEP: trading value of THB 1.07 billion, closing at THB 151.00, unchanged
