On Thursday, Thailand’s SET Index closed the morning trading session at 1,637.27 points, showing an increase of 7.06 points or 0.43%, with a trading value of THB 44.01 billion.
Pi Securities noted that the Thai stock market has risen, contrary to declines seen in other regional markets. Notably, the South Korean market dropped by 6-7%, largely due to profit-taking in global semiconductor and technology stocks. In contrast, the Thai market received support from buying activity in banking, retail, and finance sectors.
The overall sentiment was buoyed by lower-than-expected U.S. Producer Price Index (PPI) figures, aligning with softer Consumer Price Index (CPI) data released earlier. These developments have alleviated concerns regarding further interest rate hikes by the U.S. Federal Reserve. As a result, market expectations now anticipate only one interest rate hike, down from previous forecasts of two.
Meanwhile, the situation surrounding the U.S.-Iran conflict appears to be less severe than initially feared, with oil prices showing a muted response to the tensions. The main driver for the Thai bourse remains consistent foreign capital inflows. Year-to-date, net foreign purchases have reached THB 70 billion.
The outlook for the afternoon session suggests that the market may continue to advance, although some volatility is expected as prices have already moved up significantly. Key technical levels are provided, with support at 1,625 points and resistance at 1,650 points.
The five securities with the highest trading value were as follows:
- TOP: trading value THB 2.34 billion, closing at THB 60.00, up THB 3.50 or 6.19%
- KBANK: trading value THB 2.25 billion, closing at THB 234.00, up THB 3.00 or 1.30%
- GULF: trading value THB 2.12 billion, closing at THB 63.25, down THB 0.25 or 0.39%
- PTTEP: trading value THB 1.81 billion, closing at THB 145.00, up THB 1.00 or 0.69%
- BBL: trading value THB 1.74 billion, closing at THB 202.00, up THB 3.50 or 1.76%
