TRUE shares closed the morning session at 13.40 baht, down 0.40 baht or 2.90%, pressured by two main factors. Concerns over portfolio rebalancing by major shareholder China Mobile, which holds approximately 7.81%, weighed on sentiment even though TRUE clarified that China Mobile has confirmed it does not intend to sell all its shares but will consider selling no more than 1%, or around 345.5 million shares, to adjust its investment proportion. Meanwhile, second-quarter 2026 net profit came in at 6.554 billion baht, about 11% below analyst estimates due to higher-than-expected selling and administrative expenses, triggering profit-taking after the stock had previously rallied. Analysts from Krungsri Securities and Asia Plus Securities assess that China Mobile's portfolio reduction does not affect the core business and view the price dip as an accumulation opportunity for long-term investors.
True Corporation Public Company LimitedQ2 net profit 11% below estimates due to higher expenses, triggering profit-taking.
China Mobile LimitedChina Mobile reducing its stake in TRUE, though limited to 1%.
