On Monday, Thailand’s SET Index closed the morning trading session at 1,512.69 points, showing a decrease of 5.90 points or 0.39%, with a trading value of THB 32.38 billion.
Pi Securities stated that the Thai stock market faced downward pressure in the morning session, primarily from energy stocks, led by PTTEP and PTT, following a decline in crude oil prices. Market sentiment was also influenced by the upcoming U.S. midterm elections, with investors expecting the Democratic Party to secure a majority.
Such an outcome could ease concerns over policies that have previously weighed on investment sentiment, raising hopes for a de-escalation of tensions in the Middle East and an easing of trade disputes.
Meanwhile, electronics component stocks rebounded during the session after suffering substantial losses in the preceding period. However, the brokerage cautioned that volatility could persist due to lingering concerns surrounding U.S. technology stocks, particularly negative cash flow positions and the possibility that profitability may fall short of previous expectations.
Capital flows into domestic-oriented and defensive stocks, on the other hand, have helped cushion the Thai market against further declines.
For the afternoon session, Pi Securities expects energy stocks to remain a drag on the market, placing support at 1,507 points and resistance at 1,525 points.
The five securities with the highest trading values were as follows:
- DELTA: trading value of THB 2.51 billion, closing at THB 202.00, down THB 1.00 or 0.49%
- PTTEP: trading value of THB 2.46 billion, closing at THB 159.00, down THB 6.00 or 3.64%
- PTT: trading value of THB 1.99 billion, closing at THB 41.25, down THB 0.75 or 1.79%
- KBANK: trading value of THB 1.84 billion, closing at THB 244.00, down THB 2.00 or 0.81%
- TRUE: trading value of THB 1.34 billion, closing at THB 12.80, unchanged
