FSS Expects Thai Stocks to Extend Gains on Baht Appreciation and Fund Inflows

Mr. Weerawat Wirotpoka, director of the securities analysis department of Finansia Syrus Securities Public Company Limited (FSS), said that in the morning session, the increase in Thailand’s  SET Index was part of the value from strong Thai baht that rose to under 36 THB/USD, as the market was expected to be supported by the fund inflow, including a buyback of large-cap stocks, particularly an electronic and tourism stocks, while the majority of other Asian market stocks also increased today.

The Thai stock continued to rise in the afternoon session, with support from baht appreciation as the main driver, giving a resistance level at 1,635-1,640 points and a support level at 1,620-1,625 points.