Mr. Koraphat Vorachet, Division Head of Research at Krungsri Securities (KSS), stated that the Stock Exchange of Thailand (SET) Index closed the morning session higher by 1.40%, or 20.93 points, at 1,511.33 points, buoyed by both domestic and international positive factors. The SET Index this morning climbed to a peak of 1,517.32 points, the highest level since September 2023, or in 2 years and 6 months.
Regarding international factors, he noted that the U.S. Supreme Court’s recent decision to terminate President Donald Trump’s reciprocal tariffs is particularly beneficial for Asian countries. As a result, Thai exports will see a significant reduction in U.S. import tariffs, ranked 3rd in Asia after Taiwan and Singapore.
At the same time, the imminent formation of the new government will provide positive momentum for investment, especially as various projects granted BOI privileges are set to increase investment. This will drive fund flows into the industrial estates, power plant, and telecommunications sectors, such as AMATA, ADVANC, TRUE, GULF, and GPSC. There has also been strong buying in the petrochemical sector, which is considered KSS’ top pick.
Additionally, the SET Index target for 2026 has been revised upward to 1,600 points from the previous target of 1,475 points. At the 1,600-point level, the P/E ratio is 17 times, close to the 10-year average index P/E ratio of 17.3 times. PTT, PTTGC, IVL, and TOP are expected to support the index toward 1,600 points.
For the afternoon trading session, the market is expected to remain positive, with a key resistance at 1,520 points and support at 1,500 points.
The top five securities by trading value in the morning session are as follows:
- Kasikornbank PCL (SET: KBANK): Trading value THB 3.25 billion, closed at THB 198.50 per share, down THB 2.50 or 1.24%.
- Gulf Development PCL (SET: GULF): Trading value THB 2.94 billion, closed at THB 63.25 per share, up THB 0.50 or 0.80%.
- Delta Electronics (Thailand) PCL (SET: DELTA): Trading value THB 2.72 billion, closed at THB 259.00 per share, up THB 11.00 or 4.44%.
- True Corporation PCL (SET: TRUE): Trading value THB 2.66 billion, closed at THB 14.60 per share, unchanged.
- PTT PCL (SET: PTT): Trading value THB 2.5 billion, closed at THB 37.50 per share, up THB 0.75 or 2.04%.
