On Monday, Thailand’s SET Index closed the morning trading session at 1,594.88 points, showing a decrease of 9.64 points or 0.60%, with a trading value of THB 39.29 billion.
Pi Securities wrote that the Thai stock market declined in the morning session, pressured by sell-offs in the electronics component sector, led by DELTA, following news that OpenAI has postponed its plans to be listed on stock market this year.
Meanwhile, there is lingering concern over the direction of interest rates. The U.S. Federal Reserve’s meeting this week is widely expected to result in an interest rate hike, weighing further on growth stocks. Nonetheless, the Thai stock market still saw buying interest in the banking sector, buoyed by a rise in U.S. government bond yields, while oil prices rallied by over 3% this morning, lending support to energy shares.
For the afternoon session, the Thai bourse is expected to remain in negative territory, with cautious investment sentiment as investors await the outcome of the Federal Reserve meeting slated for Thursday morning. Pi Securities assesses the support level at 1,585 points and the resistance at 1,605 points.
The five stocks with the highest trading value were as follows:
- KBANK: trading value THB 3.63 billion, closing at THB 250.00, up THB 6.00 or 2.46%
- DELTA: trading value THB 2.76 billion, closing at THB 256.00, down THB 8.00 or 3.03%
- SCB: trading value THB 2.16 billion, closing at THB 151.00, up THB 2.50 or 1.68%
- KTB: trading value THB 2.11 billion, closing at THB 44.25, up THB 0.50 or 1.14%
- HANA: trading value THB 1.86 billion, closing at THB 49.75, down THB 0.25 or 0.50%
