The SET Index in Thailand gained more than 10 points on Fridayas, the blue chip stocks including CPALL, KBANK, and AOT saw a surge in foreign capital following China’s scheduled reopening of its borders from January 8, a key factor that supports the Thai tourism recovery.
As of 12:01 (Thai time), the SET Index rose 11.75 points, or 0.71%, to 1,675.61, with a total reading value of THB32,349 million.
According to Capital Nomura Securities analysts, the Thai SET Index climbed in the early trading session, boosted by China’s move to reopen its border on Sunday (Jan. 8). This resulted in a fund inflow into Thai blue chip stocks, particularly domestic plays like AOT, CPALL, BDMS, and KBANK, while a selloff in DELTA shares slowed.
CNS predicts the index to trade between 1,660 and 1,685 and recommends investors to accumulate equities that benefit from China’s lifting of travel restrictions and Thailand’s recovery.