Thai Stock Market Rebounds in Morning Session

InfoQuest News Agency (13 Sep ’24)

The Stock Exchange of Thailand (SET) closed the morning session at 1,428.03 points, a 0.45% increase from the previous day, with a trading value of approximately 29,494 million baht. The Thai stock market rebounded in the morning, responding to the strengthening baht sentiment, which supported continued foreign capital inflows. As a result, bank stocks experienced a significant bounce.

Morning Session Highlights

The morning session saw the SET index adjust within a range of 1,426.25 points to 1,433.66 points. The trading value was around 29,494 million baht.

Expert Insights

Mr. Sorapon Weeramethikul, Assistant Managing Director and head of the investment strategy team at Kasikorn Securities, stated that the Thai stock market rose in line with Asian markets, responding to the strengthening baht sentiment. This sentiment supported continued foreign capital inflows, leading to a surge in commercial banking group stocks.

Afternoon Trend Expectations

The market is expected to fluctuate within the support range of 1,420 points and the resistance level of 1,430 points in the afternoon session. Investors are advised to follow government policies aimed at stimulating the economy and the upcoming Federal Reserve (Fed) meeting, where a 0.25% interest rate cut is expected.

Top-Traded Securities

• EA: Trading value of 2,738.79 million baht, closed at 7.95 baht, with a 0.75 baht increase.
• KTB: Trading value of 2,240.95 million baht, closed at 20.60 baht, with a 0.10 baht increase.
• BBL: Trading value of 2,114.21 million baht, closed at 159.00 baht, with a 4.00 baht increase.
• SCB: Trading value of 1,544.62 million baht, closed at 113.50 baht, with a 0.50 baht increase.
• BDMS: Trading value of 1,337.85 million baht, closed at 29.75 baht, with a 0.25 baht increase.

Reported by Phacharathorn Phumikham and Sasithorn Simaporn