The share price of Gulf Energy Development Public Company Limited (GULF) and other related companies through direct and indirect subsidiaries, edged lower in today’s session, pressured the Thai stock market to fall slightly in the morning session.
As of 11:20 local time in Thailand, GULF fell 0.50/share or 1.22% to ฿40.50/share.
Intouch Holdings Public Company Limited (INTUCH) plunged ฿2.75/share or 3.24% to ฿82.00/share.
Advanced Info Service Public Company Limited (ADVANC) dropped ฿2.50/share or 1.31% to ฿188.50/share.
Thaicom Public Company Limited (THCOM) decreased ฿0.40/share or 3.60% to ฿10.70/share.
Collectively, the pullback in GULF, INTUCH and ADVANC has an impact to the SET Index around 2 points, while AOT alone has almost 1 point of impact.
Meanwhile, major stock markets in Asia traded higher on Friday. Nikkei rose 1.10%, Shanghai Composite increased 0.43%, Hang Seng Index jumped 1.65%, ASX 200 gained 0.44% and IDX Composite edged 0.45% higher.
Finansia Syrus Securities (FSS) stated that the plummet in GULF, INTUCH, ADVANC and THCOM this morning was due to a profit taking after a spike in share prices in recent days and at a fast pace, resulting in a drop in SET Index. The analyst also estimated that the fund outflow could also be the reason behind today’s plummet as well.