On Tuesday, Thailand’s SET Index closed the morning trading session at 1,581.84 points, showing an increase of 20.16 points or 1.29%, with a trading value of THB 42.68 billion.
UOBKayHian Securities (Thailand) (UOBKH) noted that the Thai stock market rebounded this morning in line with regional markets following the ceasefire between Iran and Israel. Shares that saw significant declines in the previous session managed to recover, especially within the technology sector. This move positively impacted the domestic electronics components stocks, with DELTA leading the gains.
However, the recovery is expected to be short-lived, given the prevailing pressures in the market. These include a rise in the 10-year U.S. bond yield, which has increased to 4.7%, and the depreciation of the US dollar, now trading at 100.7 yen per dollar. This may trigger a shift to a risk-off sentiment, prompting investors to adopt a more cautious approach over the next one to two months.
Additionally, UOBKH observed that foreign capital flows have gradually exited Asian equity markets since May. For the Thai market, capital outflows are expected to materialize this week, with the overall market outlook remaining cautious. Investors may begin to take profit, although the brokerage still views the three-month to half-year horizon for the Thai bourse as positive.
For this afternoon, UOBKH provided a resistance level at 1,580 points and a support level at 1,548 points.
The top five securities by trading value were as follows:
- DELTA: trading value of THB 6.19 billion, closed at THB 358.00, up THB 20.00 or 5.92%
- GULF: trading value of THB 4.08 billion, closed at THB 64.50, unchanged
- KBANK: trading value of THB 3.10 billion, closed at THB 198.00, down THB 2.00 or 1.00%
- KTB: trading value of THB 2.28 billion, closed at THB 35.25, up THB 0.25 or 0.71%
- SCB: trading value of THB 2.04 billion, closed at THB 137.50, down THB 1.50 or 1.08%
