SET Index Pares Losses as Buying Interest in Banking Sector Offsets Market Rout

published 1 d ago · en · source ↗

Affected tickers

Per-ticker News Sentiment Indicator

BBLmacro · positive · med
Expectations of rising interest rates to combat inflation are driving buying interest in banking stocks like BBL, which helps the sector outperform the broader market.
BEother · neutral · high
The article discusses the performance of the Thai SET Index and specific Thai banking stocks, which has no material impact on Bloom Energy Corp.
KBANKmacro · positive · med
Rising inflation expectations and potential interest rate hikes have generated renewed buying interest in the banking sector, including KBANK, which closed up 2.56%.
KTBmacro · positive · med
Banking stocks like KTB saw renewed buying interest due to expectations that interest rates might be raised sooner than anticipated to combat accelerating inflation.
ORmacro · positive · med
The surge in crude oil prices past $100 per barrel provides support to oil-related stocks like OR, helping to cushion the overall market index.
PTTEPmacro · positive · high
The surge in crude oil prices past $100 per barrel provides fundamental support for PTTEP as an oil-related stock despite the broader market decline.
SCBmacro · positive · med
Banking stocks like SCB saw renewed buying interest due to expectations that rising inflation will lead to higher interest rates.

Article body

On Friday, Thailand’s SET Index closed the morning trading session at 1,636.31 points, showing a decrease of 4.72 points or 0.29%, with a trading value of THB 51.23 billion. Asia Plus Securities stated that the Thai stock market declined during the morning session, following the same downward trend seen in international markets. The extended tensions in the Middle East continued to weigh on investor sentiment, while crude oil prices surged past $100 per barrel. This rise in oil prices provided support to oil-related stocks within the Thai bourse, helping to cushion the overall index. At the same time, renewed concerns regarding accelerating inflation led to expectations that interest rates might be raised sooner than previously anticipated. While this created headwinds for the broader stock market, certain sectors—particularly banking stocks—stood to benefit. As observed today, these stocks saw renewed buying interest, which helped reduce the losses in the index. For the afternoon trading session, the SET Index is expected to move sideways within a range, with a resistance level projected at 1,645–1,650 points and support at 1,615–1,620 points. The five securities with the highest trading values were as follows: KTB: trading value at THB 4.93 billion, closing at THB 43.75, up THB 1.75 or 4.17% BBL: trading value at THB 3.69 billion, closing at THB 190.50, up THB 3.50 or 1.87% SCB: trading value at THB 3.43 billion, closing at THB 154.50, up THB 2.00 or 1.31% KBANK: trading value at THB 3.22 billion, closing at THB 240.00, up THB 6.00 or 2.56% PTTEP: trading value at THB 2.35 billion, closing at THB 151.00, down THB 0.50 or 0.33%