On Thursday, Thailand’s SET Index closed the morning trading session at 1,592.22 points, showing an increase of 3.99 points or 0.25%, with a trading value of THB 52.72 billion.
UOBKayHian Securities (Thailand) wrote that the Thai stock market exhibited fluctuating movements between positive and negative territory in the morning session, with significant pressure stemming primarily from selling in DELTA, as well as broad-based declines in the electronics and tourism sectors.
Despite these downward pressures, the overall market outlook remains more optimistic than initially apparent, buoyed especially by a remarkable rebound in the banking sector. Banks have been the first to show improvement, ahead of announcing their second quarter 2026 earnings results in mid-July, with expectations that the operating performance will not be disappointing.
In support of this positive sentiment, the Monetary Policy Committee (MPC) recently revised its forecast for national GDP growth this year to 2.3% from the previous 1.5%, offering further upside potential from the improving economic outlook. Sectors benefiting from the upward interest rate trend, such as insurance and finance, are also expected to perform well, which aligns with trends in the U.S. market.
On the other hand, the technology sector faced selling pressure following reports that Apple has lobbied the Trump administration to permit procurement of chips from Chinese firms placed on the blacklist, as U.S. chip prices have surged. This development has weighed on shares of Micron, Samsung, and SK Hynix.
Additionally, news that META has started offering cloud rental services has sparked concerns of over-investment in the tech sector, with leveraged ETF funds experiencing sharper declines than the broader technology segment. Portfolio adjustments have amplified volatility, especially as fund sizes grow larger.
Looking ahead to the afternoon, the Thai market may continue to track higher, with sector rotation favoring banking and domestically oriented consumer stocks over the electronics group. Technical support is identified at 1,585 points and resistance at 1,604 points, with expectations that the index may hold above the 1,600-point level by the end of the week.
The top five securities by trading value are as follows:
- SCB: trading value THB 7.05 billion, closing at THB 153.00, up THB 5.50 or 3.73%
- KBANK: trading value THB 5.74 billion, closing at THB 231.00, up THB 13.00 or 5.96%
- BBL: trading value THB 3.17 billion, closing at THB 189.50, up THB 9.50 or 5.28%
- KTB: trading value THB 2.94 billion, closing at THB 39.75, up THB 1.75 or 4.61%
- GULF: trading value THB 2.69 billion, closing at THB 62.50, up THB 1.00 or 1.63%
