On Wednesday, Thailand’s SET Index closed the morning trading session at 1,504.82 points, showing an increase of 8.51 points or 0.57%, with a trading value of THB 31.04 billion.
Pi Securities wrote that the Thai stock market rebounded above the 1,500-point level in the morning session, tracking gains in international markets. Despite U.S. October CPI inflation data coming in higher than expected overnight, the market had already priced in some of the impact. Inflation in the coming months is likely to ease, in line with declining oil prices, reducing market concerns over inflationary pressures from the U.S.
Additionally, the brokerage observed that following the Republican Party’s loss of the majority in both houses to the Democratic Party in the recent midterm elections, there was initial concern about potentially stricter controls on AI and data centers.
However, traders began to anticipate that regulation may not be excessively tight, given the U.S. focus on maintaining technological competitiveness. This sentiment was further supported by strong sales figures from TSMC, leading to a recovery in technology shares and boosting related stocks in the Thai market, such as DELTA and ADVANC.
For the afternoon session, Pi Securities expects the Thai market to continue trading in positive territory, projecting a resistance level at 1,510 points and support at 1,490 points.
The top five stocks by trading value were as follows:
- DELTA: trading value THB 1.75 billion, closing at THB 194.50, up THB 1.50 or 0.78%
- SCB: trading value THB 1.55 billion, closing at THB 153.00, up THB 2.00 or 1.32%
- ADVANC: trading value THB 1.38 billion, closing at THB 344.00, up THB 6.00 or 1.78%
- KTB: trading value THB 1.29 billion, closing at THB 42.50, up THB 0.50 or 1.19%
- PTT: trading value THB 1.27 billion, closing at THB 38.25, up THB 0.25 or 0.66%
