Chaiyot Jiwangkul, Assistant Director of Securities Analysis at Krungsri Securities (KSS), mentioned on the program “Kaohoon Joh Talad” on April 16, 2025, that the Thai stock market is expected to trend upward, in line with regional markets following the Songkran holidays.
The uptick comes after regional neighbors’ markets responded positively to the U.S. easing trade measures by exempting some import duties on semiconductors and electronic components. This move serves as a favorable factor for the influx of fund flows into the Thai stock market.
However, the Thai stock market still faces headwinds from the ex-dividend (XD) marking of major banking stocks, including SCB and KTB, likely pressuring the index by around 4 points. Consequently, the securities firm anticipates that the SET index will experience limited gains today, with resistance in the range of 1,135-1,140 points.
Investors should also keep an eye on the Monetary Policy Committee (MPC) meeting scheduled for April 30, 2025. It is expected that the interest rates will remain unchanged. Nonetheless, if there is a surprise rate cut, it may positively stimulate the Thai stock market in the short-term.
Today’s focus should include the ‘China Play’ group, buoyed by China’s better-than-expected first-quarter GDP figures of 5.4%.
The notable example is IVL, which is projected to see a recovery in 1Q25 performance from a low base last year, with no investment losses or stock losses reported. Speculative buying is recommended, with resistance at THB 20 and a fair value at THB 24.
Meanwhile, the tourism sector continues to benefit from the steady recovery of foreign tourist numbers, with AOT being a direct beneficiary. A speculative “buy” recommendation is given, with resistance levels at 39-40 baht and a fundamental target price of 64.50 baht, presenting high upside potential compared to current prices.
