Thai Inventory Market Sees Optimistic Momentum: SET Rises 1.02% Amid U.S. Market Surge and Political Stability

SET closed in the present day at 1,303.00 factors, a rise of 13.16 factors (+1.02%), buying and selling worth 35,690.97 million baht.

Inventory buying and selling rose in the present day and remained in constructive territory all through the day. The very best level was 1,305.03 factors and the bottom level was 1,295.35 factors.

When it comes to modifications in securities in the present day, there was a rise of 366 securities, a lower of 152 securities, and no change for 135 securities.

Mr mentioned. Narongdet Chanthapaisarn, Director of Securities Evaluation at AIRA Securities, that the Thai inventory market has recovered nicely in the present day, stemming from sentiment and a surge within the US inventory market. After retail gross sales and labor numbers got here out higher than anticipated and the expectation that the US Federal Reserve (Fed) will lower rates of interest In the meantime, home elements that overhang politics have been resolved. and Miss Paetongthan Shinawatra was appointed Prime Minister as anticipated. And there’s a excessive probability that the Cupboard would be the identical as earlier than. It will make driving numerous insurance policies seamless and the method of paying the federal government finances will go easily.

Though the general image in the present day nonetheless appears to be like higher. However as a result of earnings per share (EPS) haven’t but elevated, the upside is proscribed and Cupboard appointments nonetheless must be adopted. and coverage statements to parliament

Subsequent week’s development: the Thai inventory market will fluctuate inside a restricted vary. It does not go up and it does not go down. Subsequent week, Thai GDP numbers for 2Q24 can be revealed, which the market expects to develop by 2.2% yoy and 1% qoq If they arrive out equal or higher than anticipated, it would constructive for the market. However whether it is decrease than anticipated, it is going to be damaging for the market Additionally, after the 2Q24 finances is introduced, will analysts regulate their EPS estimates or not AND the anticipated Financial Coverage Committee (MPC) assembly for him to keep up rates of interest

Subsequent week there is a chance to check the resistance degree at 1,320 factors and the assist degree at 1,280 factors.

As for the securities with the very best buying and selling worth, 5 securities

BDMS buying and selling worth 1,677.56 million baht, closed at 26.25 baht, down 0.25 baht.

KBANK buying and selling worth 1,599.93 million baht, closed at 133.50 baht, a rise of three.00 baht.

CPALL buying and selling worth 1,393.21 million baht, closed at 55.75 baht, down 0.25 baht.

BBL buying and selling worth 1,203.84 million baht, closed at 130.50 baht, a rise of 0.50 baht.

PTT buying and selling worth 1,136.03 million baht, closed at 34.25 baht, a rise of 0.25 baht.

By Saowalak Ponphon/Ratchada Kongkhunthian