On Tuesday, Thailand’s SET Index closed the morning trading session at 1,504.86 points, showing a decrease of 2.34 points or 0.16%, with a trading value of THB 35.32 billion.
Kasikorn Securities (KS) stated that the Thai stock market declined in early trading before recovering most of its losses, ending the morning session slightly lower. Overall sentiment remained subdued, pressured by a correction in technology stocks that dragged down Thai electronics component shares.
Meanwhile, improving prospects for a short-term de-escalation of the Middle East conflict sent global oil prices sharply lower overnight, weighing on domestic energy stocks. However, after a prolonged decline in Thai equities, the SET Index found some support around the 1,500-point level.
Global markets have also faced selling pressure as investors reduced risk exposure ahead of the U.S. midterm elections. Nevertheless, historical trends indicate that risk assets have generally gained positive momentum following the elections, accompanied by declines in U.S. Treasury yields and the US dollar.
Kasikorn expects greater clarity following the election-related uncertainty to help restore upward momentum in the Thai market.
For the afternoon session, the brokerage expects the SET Index to fluctuate between support at 1,490 points and resistance at 1,520 points.
The five securities with the highest trading values were as follows:
- DELTA: Trading value of THB 3.48 billion, closing at THB 194.50, down THB 5.00 or 2.51%
- PTT: Trading value of THB 2.88 billion, closing at THB 40.75, down THB 0.25 or 0.61%
- ADVANC: Trading value of THB 1.67 billion, closing at THB 343.00, up THB 6.00 or 1.78%
- PTTEP: Trading value of THB 1.65 billion, closing at THB 153.00, down THB 5.00 or 3.16%
- KBANK: Trading value of THB 1.35 billion, closing at THB 245.00, up THB 3.00 or 1.24%
