On Monday, Thailand’s SET Index closed the morning trading session at 1,624.32 points, showing an increase of 0.68 points or 0.04%, with a trading value of THB 43.77 billion.
UOB Kay Hian Securities (Thailand) wrote that the Thai stock market moved within a narrow range this morning, despite experiencing significant volatility at the beginning of the session in line with the direction of Asian markets and selling pressure from the energy sector.
The Thai bourse is also closely monitoring potential impacts from the recent intervention in the Japanese yen—stemming from cooperation between Japan and the United States—to determine whether it will affect Thailand.
However, the selling pressure was not substantial, and the market was supported by speculation in specific stocks, notably within the electronics components and tourism sectors, as well as stocks that benefited from the recent decline in oil prices. This helped the SET Index to recover and close the morning session in positive territory.
For the afternoon session, the index is anticipated to continue fluctuating within a range of approximately plus or minus five points. According to UOBKH, international factors are expected to have less impact, as investors focus more on corporate earnings reports. This week, the earnings season centers on domestically-oriented sectors and telecommunications, which are expected to show year-on-year growth.
Meanwhile, valuations in the Thai stock market are no longer expensive, and dividend yields remain high relative to other countries, making the market attractive. Furthermore, the index has experienced minimal impact from the unwinding of the Yen carry trade.
The support level is assessed at 1,615 points, while the resistance level is projected at 1,633 points.
The five stocks with the highest trading values are as follows:
- DELTA: trading value THB 2.84 billion, closing at THB 274.00, down THB 4.00 or 1.44%
- PTTEP: trading value THB 2.82 billion, closing at THB 149.50, up THB 0.50 or 0.34%
- KTB: trading value THB 2.05 billion, closing at THB 45.00, up THB 0.75 or 1.69%
- CPALL: trading value THB 1.93 billion, closing at THB 48.00, unchanged
- PTT: trading value THB 1.88 billion, closing at THB 38.50, unchanged
