On Friday, Thailand’s SET Index closed the morning trading session at 1,619.61 points, showing an increase of 5.25 points or 0.33%, with a trading value of THB 44.48 billion.
Pi Securities wrote that the Thai stock market opened higher this morning, with an improved investment climate. International market sentiment eased as concerns over U.S. interest rate trends lessened.
While the market previously expected the U.S. Federal Reserve could raise rates, the current consensus now anticipates the central bank will likely maintain rates at its September meeting, as recent U.S. labor market data came in weaker than expected and inflation numbers were not alarming. This outlook supported a rebound in global equities, including the Thai market.
On the domestic front, the Thai bourse was buoyed by the release of company earnings, which have, in most cases, surpassed expectations and prompted analysts to revise their earnings forecasts upward.
Notably, the latest SET EPS reached an all-time high at THB 109, which suggests the Thai index at 1,620 points is still reasonably valued. This morning, positive earnings momentum drove speculative buying in stocks such as KCE, AMATA, PTT, and AOT, along with strong buying interest in DELTA, in line with gains in global technology shares.
Looking ahead to the afternoon session, the index is expected to continue its upward trend, with support forecast at 1,615 points and resistance at 1,630 points.
The five securities with the highest trading value were as follows:
- PTT: trading value THB 4.59 billion, closing at THB 39.75, up THB 0.50 or 1.27%
- AOT: trading value THB 3.23 billion, closing at THB 65.00, up THB 1.50 or 2.36%
- DELTA: trading value THB 1.96 billion, closing at THB 272.00, up THB 4.00 or 1.49%
- HANA: trading value THB 1.75 billion, closing at THB 40.25, up THB 2.50 or 6.62%
- BH: trading value THB 1.55 billion, closing at THB 196.50, up THB 6.50 or 3.42%
