BANGKOK, Thailand – Thailand’s stock market fell sharply, closing at 1,365.70 points on November 7, down 32.29 points or 2.16%, with trading value of 79.44 billion baht. The decline followed a global sell-off in technology shares, particularly semiconductor and electronic component makers, amid concerns that the United States could impose tighter regulation on artificial intelligence (AI) businesses and data center investment.
Thai electronics stocks linked to the global technology supply chain came under heavy selling pressure. HANA fell 9.70% to 37.25 baht, KCE dropped 6.42% to 62 baht, JMART declined 5.61% to 10.10 baht, WHAUP lost 4.86%, and DELTA fell 4.81% to 178 baht.
Investor sentiment was also affected by uncertainty over potential US policy changes following the midterm elections. Fears of stricter oversight of AI and data center businesses raised concerns that technology demand and chip orders could slow. Reports that Micron might temporarily suspend construction of a chip manufacturing plant in Taiwan added to pressure on semiconductor shares.
Investors are also awaiting US non-farm payroll and unemployment figures for clues about the economy and the Federal Reserve’s future interest rate decisions.
Wattan Jitsomnuek, Director of Strategic Analysis at Pi Securities, said the Thai market had followed the global decline, with technology stocks bearing the brunt of concerns over possible tighter US regulation of AI and data centers.
He said DELTA, HANA and KCE remained key sources of pressure because of their sensitivity to global technology industry trends. However, he believes investors may have overreacted to negative news and advises waiting for greater clarity before making new investments, despite substantial share price declines.
Kasikorn Securities said the global sell-off in technology and semiconductor shares continued to weigh on growth stocks. It recommended greater caution and consideration of value stocks trading at attractive prices while retaining sound fundamentals, highlighting PR9 and MINT.
The medium-term outlook for the electronics sector, however, remains more positive. InnovestX Securities expects earnings across the sector to continue growing in the second half of 2026 and into 2027, supported by existing orders and the start of production of AI-related products. It named HANA as its top pick while maintaining positive views on KCE and DELTA.
This suggests the latest share price declines may reflect investor anxiety and market sentiment more than any immediate deterioration in underlying business fundamentals.
Hospital stocks BH and BCH also fell with the wider market, but Pi Securities said defensive shares could help reduce portfolio volatility, highlighting BDMS, BH and BCH. AMATA and WHA are meanwhile supported by the longer-term outlook for investment in Big Tech, AI and data centers.
The key question for the coming weeks is whether the global technology sell-off represents a short-term correction or a more significant revaluation of technology shares, with implications for the Thai market and its electronics sector.
