The Thai stock market ended the morning session on Friday with a loss of 18 points, dragged down by a heavy sell-off in the banking and energy sectors.
SET Index dropped 17.99 points, or 1.17%, to 1,518.83, with a trading value of THB33.153 billion.
According to Phillip Securities (Thailand), the banking and energy sectors—a group of stocks with significant weight in the Thai market—saw selling pressure in the morning session as investors worried about a recession, resulting in a steeper decrease in the SET Index than analysts had expected.
The brokerage anticipates the index to decline further during the afternoon session and has established 1,515-1,500 as a support level.
