Three brokers assessed the Thai stock market trend this afternoon, expecting the SET index to move in a narrow range of 1,630 to 1,643 points, after closing the morning session at 1,636.96 points, down 2.08 points or 0.13 percent, with trading value of 48.408 billion baht. Asia Plus stated that the index has resistance at 1,640 to 1,642 points and still needs to be cautious of profit-taking as it is near the end of wave b, while recommending to monitor the escalation of military operations between the US and Iran, which supports the baht weakening to a target of 33.80 to 34 baht per dollar and may cause fund flows to start flowing out. ASL viewed the index as moving sideways without new supporting factors, with selling pressure in electronic components but buying back in energy, petrochemicals, and financials, while warning to follow the Middle East situation which has disrupted oil shipments through the Strait of Hormuz, pushing WTI crude prices up to 85 dollars per barrel and Brent to 90 dollars per barrel. Meanwhile, Globlex assessed that the index is stronger than the region due to fund flows into mid- and large-cap stocks, with buying in energy providing support, but pressured by selling in electronics led by DELTA, following the sell-off in US chip stocks.
Delta Electronics (Thailand) Public Company LimitedSelling pressure in electronics led by DELTA, following sell-off in US chip stocks.