Mr. Natapon Khamthakrue, Assistant Managing Director of Securities Analysis at Yuanta Securities (Thailand), stated that the Stock Exchange of Thailand (SET) Index closed the morning session higher by 0.35%, or 5.14 points, at 1,464.82 points, following slight volatility caused by profit-taking after yesterday’s strong upward momentum, as well as ongoing political concerns.
Investors are waiting to follow political developments, particularly regarding the barcode and QR code on election ballots, as the Office of the Ombudsman has sent a letter to the Election Commission (EC) requiring an explanation within seven days.
In addition, some parties have submitted the matter to the Administrative Court. There has also been a “sell the fact” phenomenon in stocks that have recently disclosed their financial results, causing the market’s upward movement to slow.
The afternoon outlook suggests the market will continue to fluctuate similarly to the morning session. For the remainder of the week, it is anticipated that the index will move sideways, as regional stock markets resume trading.
This could result in funds that flowed into the region and concentrated in the SET Index earlier in the week dispersing to other markets. The support range is at 1,455-1,460 points, and resistance is at 1,470 points.
The top five securities by trading value are as follows:
- Gulf Development PCL (SET: GULF): Trading value THB 4.05 billion, closed at THB 60.00 per share, down THB 1.25 or 2.04%.
- Kasikornbank PCL (SET: KBANK): Trading value THB 3.01 billion, closed at THB 206.00 per share, unchanged.
- True Corporation PCL (SET: TRUE): Trading value THB 1.76 billion, closed at THB 14.10 per share, up THB 0.10 or 0.71%.
- Delta Electronics (Thailand) PCL (SET: DELTA): Trading value THB 1.7 billion, closed at THB 225.00 per share, unchanged.
- SCB X PCL (SET: SCB): Trading value THB 1.54 billion, closed at THB 146.50 per share, up THB 0.50 or 0.34%.
