SET Index Falls Unexpectedly as a Sharp Drop in Biggest Market-Cap Stock Drags Thai Bourse Down

Thailand’s SET Index dropped 6.05 points or nearly 0.50% in the morning session on Friday, pressured by the selloff in DELTA Thailand after the announcement of a big lot transaction overnight.

The share price of Delta Electronics (Thailand) Public Company Limited (SET: DELTA), the largest listed company in terms of market capitalization in the Thai bourse, fell THB12.75 or 12.26% to THB91.25 per share after the opening bell on Friday. The selloff pressured the SET Index more than 11 index points, despite other big-cap stocks surging in response to the positive trends in regional markets as well as Wall Street last night.


The Stock Exchange of Thailand (SET) on September 29, 2023, announced a big lot transaction of Delta Electronics (Thailand) Public Company Limited (SET: DELTA) at a total value of THB 8,454 million.

Delta International Holding Limited B.V., its subsidiary in Taiwan, offloaded 89,232,800 shares in DELTA Thailand for a total value of THB 8,454 million, accounting to 0.72% of shares outstanding of DELTA Thailand. According to the report, the offer price range was THB94.75 – 96.75 per share, representing a discount of around 7.0 – 8.9% to the last close of THB104.00 on September 28, 2023.


CGS-CIMB Securities commented on the move, stating that the turnover last night by approximately 0.72% pushed DELTA Thailand’s turnover ratio month-to-date to over 2%, which helped them avoid being excluded from SET50 in 1H24, at least for now. The securities company noted that this transaction could be another rationale for the placement.