On Wednesday, Thailand’s SET Index closed the morning trading session at 1,578.41 points, showing a decrease of 10.27 points or 0.65%, with a trading value of THB 37.37 billion.
Maybank Securities (Thailand) stated that the Thai stock market declined during the morning session, moving in line with a drop in international equity markets. The main pressure came from heightened tensions in the Middle East, which have raised concerns about potential disruptions to oil shipments through the Strait of Hormuz. This has pushed oil prices higher, exerting renewed pressure on the market.
According to the brokerage, these factors have also reignited market concerns over accelerating inflation, which continues to remain at elevated levels. There are rising worries about the possibility of the U.S. Federal Reserve raising interest rates sooner this year, driving U.S. bond yields higher, further weighing on risk assets.
Looking ahead to the afternoon session, the market is expected to continue trading in negative territory. The resistance level is set at 1,590 points, while the support level is seen at 1,570 points.
The five securities with the highest trading value were as follows:
- PTT: trading value THB 4.04 billion, closing at THB 41.25, down THB 0.25 or 0.60%
- PTTEP: trading value THB 2.35 billion, closing at THB 150.50, down THB 0.50 or 0.33%
- DELTA: trading value THB 1.84 billion, closing at THB 247.00, down THB 4.00 or 1.59%
- KTB: trading value THB 1.81 billion, closing at THB 43.75, up THB 0.25 or 0.57%
- KBANK: trading value THB 1.16 billion, closing at THB 248.00, unchanged
