Thailand’s SET Index closed at 1,277.58 points, increased 1.01 points or 0.08%, with a trading value of THB 32.54 billion. The analyst stated that the Thai market traded with volatility and settled with a slight positive after declining for the most part of the trading session. This was attributed to fund inflows and buying forces in the banking sector. Meanwhile, the market still lacks supporting catalysts while trading volumes remain thin.
The analyst expects the market to trade sideways within the range tomorrow.
As Thailand’s economic cabinet approved measures including loan relief, cash handouts, tax breaks, and business cost reductions to support recovery, analysts see benefits for hire-purchase firms, banks, construction supply companies, and tourism stocks.
Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance (MoF), stated that the ministry is preparing to propose new measures to the Cabinet next week to support individual savings, expected to take the form of Thailand Individual Savings Account (TISA), which is an investment savings account for stocks.
Morgan Stanley has revised its outlook on major U.S. chipmakers, raising its price target for Nvidia Corp. (NASDAQ: NVDA) to $250 from $235, while reiterating an ‘Overweight’ rating.
This came amid mounting evidence that artificial intelligence (AI) demand is pushing the semiconductor supply chain to its limits, based on findings from a recent Asia trip and further industry checks.
