On Friday, Thailand’s SET Index closed the morning trading session at 1,614.33 points, showing an increase of 20.77 points or 1.30%, with a trading value of THB 52.44 billion.
Maybank Securities (Thailand) wrote that the Thai stock market surged in the morning session, driven by strong buying in large-cap stocks, particularly those in the PTT Group, telecommunication sector, and power plant sector. The rally was attributed to continuous fund inflows into the Thai equity market, which supported the SET Index to climb back above 1,600 points.
Meanwhile, the latest non-farm payrolls data from the United States for June came in below expectations, increasing by just 57,000 jobs compared to the consensus estimate of 113,000. This has eased market concerns over the prospect of the U.S. Federal Reserve accelerating interest rate hikes, leading to a lower likelihood of a rate increase in September. The softened outlook for U.S. monetary policy was seen as a positive factor, improving overall investment sentiment in the equity market.
For the afternoon session, Maybank anticipated that the market would likely continue trading in positive territory, with resistance seen at 1,625 points and support at 1,600 points.
The five stocks with the highest trading value were as follows:
- GULF: trading value THB 3.92 billion, closing at THB 63.75, up THB 0.75 or 1.19%
- KBANK: trading value THB 2.55 billion, closing at THB 232.00, down THB 1.00 or 0.43%
- PTT: trading value THB 2.52 billion, closing at THB 36.75, up THB 1.00 or 2.80%
- DELTA: trading value THB 2.33 billion, closing at THB 319.00, up THB 7.00 or 2.24%
- ADVANC: trading value THB 2.08 billion, closing at THB 374.00, up THB 6.00 or 1.63%
