Retail and construction materials stocks rose slightly on Friday after reports that water levels in the flood zone in southern Thailand were falling, sparking positive sentiment for home repair-related stocks.
At the end of the morning session, Siam Global House Public Company Limited (SET: GLOBAL) traded at THB 6.60, up THB 0.15 or 2.33%. Dohome Public Company Limited (SET: DOHOME) settled at THB 3.82, up THB 0.06 or 1.60%. Home Product Center Public Company Limited (SET: HMPRO) settled at THB 6.40, gaining THB 0.15 or 2.40%.
Krungsri Securities (KSS) said the flood situation in Hat Yai district of Songkhla province may put temporary pressure on retail sales in the short term. However, once the water has receded, the repair and renovation measures will have a positive impact. Retail and building materials stocks such as GLOBAL, DOHOME and HMPRO are likely to benefit from this.
In addition, the Thai government is also pushing for flood relief, which is also boosting repair work.