SET Index Moves Upward as Banking and Retail Buying Buoy Sentiment

published 13 h ago · en · source ↗

Affected tickers

BBL BE GLOBAL GULF KBANK NOW OR PTTEP TOP

Per-ticker News Sentiment Indicator

BBLmacro · positive · med
BBL shares rose 1.76% as the Thai market benefited from foreign capital inflows and reduced concerns over U.S. Federal Reserve interest rate hikes.
BEother · neutral · high
The article focuses exclusively on the Thai SET Index and local market dynamics, providing no information relevant to Bloom Energy Corp.
GLOBALmacro · positive · med
The Thai market is receiving support from buying activity in the retail sector and positive sentiment regarding U.S. inflation data, which benefits companies like GLOBAL.
GULFmacro · neutral · high
The article discusses general SET Index movements driven by U.S. inflation data and foreign capital inflows, while GULF's price movement is described as a minor decline.
KBANKmacro · positive · med
KBANK benefited from broader market sentiment driven by lower U.S. inflation data, which reduced expectations for aggressive Federal Reserve interest rate hikes.
NOWother · neutral · high
The article focuses on the SET Index and Thai market sectors, providing no specific information or material impact regarding ServiceNow Inc.
ORmacro · positive · med
The Thai market is supported by positive sentiment from lower U.S. inflation data and consistent foreign capital inflows, which generally benefit large-cap retail stocks like OR.
PTTEPmacro · neutral · low
The article discusses general market movements and mentions that oil prices showed a muted response to geopolitical tensions, resulting in only a minor price increase for PTTEP.
TOPmacro · positive · med
The stock experienced significant gains as part of a broader market rally driven by cooling U.S. inflation data and reduced concerns over interest rate hikes.

Article body

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%