On Friday, Thailand’s SET Index closed the morning trading session at 1,609.18 points, showing an increase of 6.60 points or 0.41%, with a trading value of THB 36.86 billion.
UOB Kay Hian Securities (Thailand) wrote that the Thai stock market has outperformed other markets, led by DELTA and data center-related stocks such as STECON and GUNKUL. Although high U.S. government bond yields have pressured investment sentiment, the impact on Thailand is limited due to the country’s relatively low reliance on foreign borrowings and a much lower interest rate cycle, which does not significantly increase financial costs compared to the U.S.
Additionally, the Thai stock market has a high proportion of energy stocks, which account for one-third of the listed companies’ total earnings. As global markets express concern over the Middle East situation and rising bond yields, Thai stocks have the ability to serve as an inflation hedge, helping to mitigate volatility stemming from inflation and bond yield fluctuations.
The Prime Minister’s roadshows in New York, London, and Tokyo have further bolstered confidence among foreign investors. Thai equities have already returned to the radar of international investors, with Thailand regarded globally as one of the beneficiaries of the AI cycle alongside South Korea, Taiwan, and Malaysia. The local market’s strength is further supported by its substantial energy sector, making it less volatile than other international markets.
For the afternoon session, the Thai bourse is expected to trend positively within a range of 1,600-1,620 points. However, some volatility is expected between September and October, presenting buying opportunities with a broader market outlook in the range of 1,580-1,650 points.
Top five securities by trading value are as follows:
- DELTA: trading value at THB 5.87 billion, closing at THB 261.00, up THB 6.00 or 2.35%
- PTT: trading value at THB 5.74 billion, closing at THB 43.25, unchanged
- KBANK: trading value at THB 1.48 billion, closing at THB 253.00, up THB 2.00 or 0.80%
- KTB: trading value at THB 1.45 billion, closing at THB 44.75, unchanged
- GULF: trading value at THB 1.13 billion, closing at THB 60.50, unchanged
