Thailand’s stock market extended its losses on Friday afternoon, with the SET Index falling 32 points, or 2.12%, to 1,466.20 points, marking its lowest level since May as selling pressure continued to weigh on the market.
The decline deepened from the morning session, when the benchmark closed at 1,473.85 points, down 24.14 points or 1.61%, with a trading value of THB43.13 billion.
The sell-off reflected broader weakness across global equity markets, particularly technology shares, as investors reassessed the outlook for artificial intelligence (AI) and data center investments following the Democratic Party’s sweeping victory in both chambers of the U.S. Congress.
Market concerns have centered on the possibility of tighter U.S. restrictions on data center development and AI-related investments, potentially slowing the industry’s expansion and affecting companies across the technology supply chain. The concerns triggered a sharp sell-off on Wall Street, which subsequently spread across Asian markets on Friday.
In Thailand, electronics component manufacturers bore the brunt of the selling pressure. KCE Corporation (KCE) and Delta Electronics (Thailand) (DELTA) were among the most actively traded stocks by value during the morning session, falling 6.04% and 4.01%, respectively, to THB62.25 and THB179.50.
Bualuang Securities noted that the Thai market was moving in line with global equities, with investors adopting a risk-off stance and reducing their exposure amid the absence of fresh positive catalysts.
The weakness across regional markets added to the pressure. Japan’s Nikkei 225 and South Korea’s Kospi suffered sharp declines, while Taiwan’s benchmark also came under heavy selling pressure, reflecting concerns over the outlook for the global semiconductor and AI industries.
The latest decline pushed the SET Index further below the 1,470-point support level identified by Bualuang Securities earlier in the day, suggesting that selling pressure had intensified beyond the brokerage’s initial afternoon outlook.
