On Monday, Thailand’s SET Index closed the morning trading session at 1,599.50 points, showing a decrease of 8.13 points or 0.51%, with a trading value of THB 29.66 billion.
UOB Kay Hian Securities (Thailand) stated that the Thai stock market experienced a decline this morning, pressured by concerns over potential interest rate hikes. Elevated U.S. government bond yields and ongoing uncertainty in the Middle East, which continues to push up oil prices, also weighed on investor sentiment.
Domestically, the impact of ongoing flooding is expected to be moderate. Sectors likely to be affected include the financial sector, which faces concerns regarding credit quality, and the insurance sector, which is monitoring potential claims for damages. Conversely, the retail sector may see a positive impact as demand for repair materials and household goods is anticipated to increase.
As of this morning, the SET Index fell below the 1,600-point threshold. The broader market trend is expected to fluctuate within the 1,580 to 1,620-point range. Afternoon trading is likely to remain subdued, with high uncertainty expected over the next two to three weeks.
In the short term, investors are awaiting the earnings report from Micron Technology Inc., which could influence sentiment towards technology stocks. The support level is set at 1,590 points, with resistance at 1,600 points.
The five most actively traded securities by trading value were as follows:
- DELTA: trading value THB 2.53 billion, closing at THB 259.00, down THB 4.00 or 1.52%
- PTT: trading value THB 2.39 billion, closing at THB 42.75, down THB 0.25 or 0.58%
- KTB: trading value THB 1.68 billion, closing at THB 43.75, down THB 0.50 or 1.13%
- CPALL: trading value THB 1.34 billion, closing at THB 43.75, down THB 0.25 or 0.57%
- KBANK: trading value THB 0.92 billion, closing at THB 251.00, down THB 1.00 or 0.40%
