Thailand’s SET Rises 13pts at Opening Bell, Tracking Gains in US Markets

Thailand’s SET continued a rally on Monday, adding more than 10 points at the opening bell, tracking a bullish rise in Wall Street last week.

As of 10.14 hrs. local time in Thailand, the SET Index rose 13.24 points or 0.84% to 1,582, with a total trading value of THB10,701 million.

Analysts expect the SET to climb further today (June 27) as bond yields fall and US stocks gain sharply last week, giving a positive sentiment to the Thai market. This week presents an opportunity for window dressing, but deep recession worries persist.

Krungsri Securities anticipates SET to climb to 1,580 today on easing Fed rate hike worries after US economic indicators signaled a slowdown and prices of several commodities softened, including oil, aluminum, steel, and wheat. There could be end-2Q22 window-dressing activity but persistent outflows could trigger intraday weakness.