Mr. Phoowadol Phoosodngern, an investment strategist at Bualuang Securities, stated that Thailand’s SET Index closed at 1,440.01 points in the morning session, increasing 6.13 points or 0.43%, with a trading value of THB 34.90 billion.
The market tracked gains seen across regional exchanges, mainly driven by a rebound in DELTA, following positive momentum from U.S. technology stocks amid continued robust demand for semiconductor chips. Broader buying was also seen across various sectors, with petrochemical stocks attracting interest on expectations of wider spreads supported by rising demand.
Despite elevated global oil prices, market sentiment was buoyed by news that Iran has resumed allowing some oil tankers to pass through the Strait of Hormuz, while the restrained stance from other countries toward military conflict has helped ease concerns. However, investors continue to monitor developments closely.
Domestic political factors also supported speculative activity. Investors anticipate a faster timeline for government formation and the early introduction of new policy measures, potentially including infrastructure initiatives beyond those addressing living costs.
Regarding the Constitutional Court’s decision to consider the validity of the recent election over ballot barcode issues, the brokerage noted that the review process will take about 15 days, with the possibility of greater clarity within a month.
Meanwhile, the parliamentary vote for the prime minister on Thursday is expected to proceed as scheduled. While this legal issue may prompt some market caution, sharp sell-offs are not anticipated due to the availability of potential solutions.
Looking to the U.S. Federal Reserve meeting later tonight, expectations are for rates to be held steady. Investors are recommended to watch for signals on future rate direction and the Fed’s outlook on the U.S. economy.
For the rest of the trading day, the Thai market is forecast to hold within positive territory, with support level at 1,430 points and resistance at 1,460 points.
The five most traded stocks by value were:
- DELTA, with a trading value of 3.47 billion baht, closing at 274.00 baht, up 6.00 baht or 2.24%;
- TRUE, with a trading value of 2.12 billion baht, ending unchanged at 14.00 baht;
- GULF, with a trading value of 2.01 billion baht, closing at 56.75 baht, up 0.25 baht or 0.44%;
- PTTEP, with a trading value of 1.26 billion baht, finishing at 147.00 baht, down 2.00 baht or 1.34%;
- ADVANC, with a trading value of 1.17 billion baht, closing at 380.00 baht, up 1.00 baht or 0.26%.
