On Monday, Thailand’s SET Index closed the morning trading session at 1,574.93 points, showing an increase of 1.92 points or 0.12%, with a trading value of THB 35.47 billion.
FSS International Investment Advisory Securities (FSSIA) noted that the Thai stock market traded sideways in the morning session. The electronics sector outperformed expectations, as it was anticipated to see a sharper decline in line with global technology stocks. Meanwhile, the energy sector provided less support than expected.
The increase in oil prices put downward pressure on petrochemical and construction material stocks, while the finance group supported the index, as U.S. government bond yields remained high and the sector, previously underperforming, has now shown improving profit trends, prompting a sector rotation.
For the afternoon session, FSSIA expects the market to continue trading within a sideways range, due to the lack of new catalysts during the week. Investors are now closely watching the upcoming bank sector earnings reports on October 20-21, which has led to speculative buying in banking stocks.
The brokerage provided a support range at 1,563 points and a resistance at 1,580 points.
The five securities with the highest trading values were as follows:
- KBANK: trading value THB 2.27 billion, closing at THB 239.00, up THB 4.00 or 1.70%
- PTTEP: trading value THB 1.72 billion, closing at THB 156.00, up THB 1.00 or 0.65%
- KTB: trading value THB 1.72 billion, closing at THB 44.00, up THB 1.00 or 2.33%
- DELTA: trading value THB 1.65 billion, closing at THB 252.00, up THB 1.00 or 0.40%
- PTT: trading value THB 1.65 billion, closing at THB 41.00, unchanged
