Thailand’s SET Index Drops from Profit Taking despite DELTA Inches Away from THB1,000

Thailand’s SET Index dropped slightly by 5.25 points or 0.31% to 1,673.72 in the morning session, a first drop after a series of gains in recent days even before the end of 2022.

In this rally, the market was largely buoyed by big-cap and domestic & reopening stocks in anticipation of China lifting outbound travelling restrictions. Despite that, a surge in Delta Electronics Thailand Public Company Limited (SET: DELTA) also played a great role in this series of hikes.

DELTA gained 32% from the previous three sessions, jumping from THB705 to THB930 per share. The impact of DELTA pushed the SET Index by 8pts in yesterday’s session, while the overall index closed 10pts higher.

However, profit taking on Wednesday overwhelmed the market despite DELTA edging close to THB1,000 per share with an impact to the market around 4pts. Still, Thailand’s main index moved lower by 5pts.

The share price of DELTA rose as much as 6.45% to THB990 per share this morning.