Mr. Kitpon Praipaisarnkit, Senior Executive Vice President at UOB Kay Hian Securities (Thailand), stated that the Stock Exchange of Thailand (SET) Index opened higher this morning by 1.16%, or 14.49 points, to 1,267.22 points, buoyed by both domestic and international factors.
In particular, expectations of a potential interest rate cut by the U.S. Federal Reserve (Fed) at its December meeting have supported market sentiment. Additionally, the rebound in technology stocks yesterday has helped related stocks in the Thai market to recover as well.
Domestically, the market received support from specific positive drivers for certain stocks, such as the industrial estate group, which benefitted from the Economic Cabinet’s approval of the “Thailand Fastpass” measure, expediting investment appointments for industries already granted BOI licenses.
This has accelerated the inflow of foreign direct investment (FDI). AOT shares rose on expectations surrounding negotiations with King Power and further upside from the increase in passenger service charge (PSC).
For the afternoon session, the market is expected to continue trading in positive territory, with a support level at 1,249 points and resistance at 1,290 points.
The five stocks with the highest trading value:
- Airports of Thailand PCL (SET: AOT): Trading value THB 2.45 billion, closed at THB 43.25 per share, up THB 2.00.
- Delta Electronics (Thailand) PCL (SET: DELTA): Trading value THB 1.45 billion, closed at THB 207.00 per share, up THB 7.50.
- Bangkok Dusit Medical Services PCL (SET: BDMS): Trading value THB 1.37 billion, closed at THB 18.70 per share, up THB 0.10.
- TMBThanachart Bank PCL (SET: TTB): Trading value THB 764.84 million, closed at THB 1.93 per share, up THB 0.02.
- PTT PCL (SET: PTT): Trading value THB 619.63 million, closed at THB 30.50 per share, up 0.25.
