On Thursday, Thailand’s SET Index closed the morning trading session at 1,566.89 points, showing a decrease of 8.99 points or 0.57%, with a trading value of THB 35.40 billion.
Pi Securities stated that the Thai stock market edged down this morning, mainly pressured by a decline in DELTA following global technology stock sell-offs. This came after the U.S. inflation figures for September rose by 3.7% year-on-year, which was higher than market expectations.
The figure sparked renewed concerns that the Federal Reserve may be pressured to hike interest rates, although the market still anticipates a rate hold in this month’s meeting. Technology stocks, being sensitive to interest rates, saw increased sell-off as a result.
However, value stocks helped to stabilize the index to some extent in the morning session, with buying activity seen in sectors such as banking, telecommunications, and hospitals.
For the afternoon session, the market trend is expected to remain negative, with continued pressure from DELTA’s decline. The approaching long weekend may also contribute to market volatility. Investors are recommended to monitor the release of the U.S. Producer Price Index (PPI) for September today.
The support and resistance ranges are expected at 1,555 points and 1,575 points, respectively.
The five stocks with the highest trading value are as follows:
- DELTA: trading value THB 3.31 billion, closing at THB 250.00, down THB 10.00 or 3.85%
- TRUE: trading value THB 2.08 billion, closing at THB 12.60, up THB 0.50 or 4.13%
- PTT: trading value THB 1.61 billion, closing at THB 40.75, unchanged
- GULF: trading value THB 1.56 billion, closing at THB 61.75, down THB 0.25 or 0.40%
- KBANK: trading value THB 1.32 billion, closing at THB 234.00, up THB 3.00 or 1.30%
