Thailand's SET Index rises led by technology sector

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Thailand's SET Index rises led by technology sector
Credit: © Reuters.

BANGKOK - In a notable upswing within the technology sector, Thailand’s SET Index experienced a significant rise Today, marking a 1.9% increase to reach 1,412.71. Leading the charge was Jasmine Tech Soln (SET:JTS), which saw its shares soar by 10.7%. Other notable gains were observed in health care/life sciences firm Master Style (SET:MASTER) and Hana Microelectronics (SET:HANA), climbing 9.5% and 8.5% respectively.

While the tech sector enjoyed robust growth, not all industries shared in the upward momentum. Telecommunication services firm Advanced Info Service (SET:ADVANC) witnessed a decline of 2.7%, marking the session's largest drop. Additionally, financial services sectors faced some resistance, with Krung Thai Bank (SET:KTB) and SPCG PCL (SET:SPCG) experiencing decreases of 2.2% and 1.6% respectively.

The positive trend was echoed across Southeast Asia, with Singapore's FTSE Straits Times Index, Malaysia's FTSE Bursa Malaysia KLCI, The Philippines' PSEi Index, and Indonesia's JSX Composite Index all posting gains ranging from 0.7% to 1.4%.

In broader Asia-Pacific market movements, Hong Kong's Hang Seng Index led with a surge of 3.9%, while Japan's NIKKEI 225 Index also made significant headway, climbing by 2.5%. China’s Shanghai Composite Index added a modest 0.5%, South Korea's KOSPI Composite Index rose by 2.2%, and Australia's S&P/ASX 200 Benchmark Index gained 1.4%.

Currency markets saw slight shifts as the U.S. dollar weakened against the Thai baht, falling to THB 35.46 (down 0.1%), while the euro experienced a more noticeable depreciation to THB 38.48 (down 0.4%). These currency movements may have contributed to broader market dynamics throughout the trading session.

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