Thai Stocks Decline as Capital Shifts to Asian Growth Stocks

MGR Online•Economy•7d ago

Reader Briefing

The Stock Exchange of Thailand declined due to selling pressure in communication and energy stocks and a shift in fund flows toward Asian growth stocks.

•The SET Index closed at 1,609.78 points, a decrease of 7.35 points (-0.45%).
•Selling pressure was concentrated in TRUE, PTTEP, and DELTA.
•Fund flows shifted from the Thai market toward growth stocks in other Asian markets.
•Chanchai Panthathanakit of Maybank (Thailand) expects the market to move sideways tomorrow.

Overview

•The SET Index closed at 1,609.78 points, reflecting a decrease of 7.35 points or -0.45%, with a trading value of approximately 90,133.10 million baht.
•The Thai stock market initially rose during the morning session before declining in the afternoon.
•The market decline was driven by selling pressure in the communication sector, specifically TRUE due to company-specific issues, as well as selling in PTTEP and DELTA.
•Fund flows shifted into growth stocks in other Asian markets, causing the Thai market to move in the opposite direction of other Asian indices.
•The decline occurred despite a easing of tensions in the Middle East.
•Trading activity saw 168 securities increase, 251 securities decrease, and 235 securities remain unchanged.
•Chanchai Panthathanakit predicts the Thai stock market will move sideways tomorrow within a range of 1,600 to 1,620 points.
•Investors continue to monitor the performance reports of listed companies.

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Key Entities

Organization

SET

The stock exchange of Thailand whose index closed at 1,609.78 points.

TRUE

A communication sector company that faced selling pressure due to company-specific issues.

PTTEPℹ️

A company whose shares faced selling pressure, contributing to the decline of the Thai stock index.

DELTA

A company whose shares faced selling pressure, contributing to the decline of the Thai stock index.

Maybank Securities (Thailand)(บล.เมย์แบงก์ (ประเทศไทย))

The securities firm where Chanchai Panthathanakit serves as Director of Research.

Person

Chanchai Panthathanakit(ชาญชัย พันทาธนากิจ)

Director of Research at Maybank Securities (Thailand).

Place

Middle East(ตะวันออกลาง)ℹ️

A region where tensions have eased.

Asia(เอเชีย)ℹ️

A region where stock markets generally rose and growth stocks attracted fund flows.