Mr. Koraphat Vorachet, Assistant Director and Division Head of Research at Krungsri Securities (KSS), stated that the Stock Exchange of Thailand (SET) Index closed the morning session higher by 0.78%, or 9.62 points, at 1,244.92 points, supported by a lower-than-expected U.S. Consumer Price Index (CPI) which positively impacted Asian stock markets.
This reflects that the U.S. interest rate cycle remains on a downward trend, despite the U.S. Federal Reserve (Fed) keeping rates unchanged at its first meeting of the year. The medium- to long-term outlook for U.S. rates is still expected to be downward.
Domestic factors have driven buying interest in the energy and petrochemical sectors, supported by recovering oil prices, refining margins, and petrochemical spreads. There was also renewed buying in the hospital sector after earlier selling pressure caused by market vulnerability, due to insurance companies moving from lump-sum payments to a co-payment system. In the long term, the hospital sector is still expected to grow.
For the afternoon session, SET Index is expected to remain positive, continuing its morning momentum. The resistance level is expected at 1,255–1,260 points, and the support level at 1,235 points.
The top five securities by trading value in the morning session are as follows:
- SCB X PCL (SET: SCB): Trading value THB 1.98 billion, closed at THB 139.00 per share, down THB 1.00 or 0.71%.
- Kasikornbank PCL (SET: KBANK): Trading value THB 1.79 billion, closed at THB 191.50 per share, unchanged.
- PTT PCL (SET: PTT): Trading value THB 1.71 billion, closed at THB 32.50 per share, up THB 0.75 or 2.36%.
- Advanced Info Service PCL (SET: ADVANC): Trading value THB 1.27 billion, closed at THB 336.00 per share, up THB 4.00 or 1.20%.
- Delta Electronics (Thailand) PCL (SET: DELTA): Trading value THB 1.26 billion, closed at THB 162.00 per share, up THB 2.50 or 1.57%.
