The Thai stock market opened with a positive trend, rising 10 points following regional market directions, as concerns for the overall investment sentiment eased. This change is attributed to former President Donald Trump’s initial policy announcements during his first day in office, which were less aggressive than the market had previously feared. Additionally, the appreciation of the Thai baht this morning supported the inflow of foreign capital to the market.
As of 10:35 AM, the SET Index stood at 1,350.75 points, up by 10.25 points (+0.76%).
FSS International Investment Advisory (FSSIA) noted that the Thai stock market surged over 10 points this morning after Trump’s presidency commenced with policy announcements that were not as aggressive as prior market concerns predicted. This resulted in decreased U.S. Treasury yields and a weakening U.S. dollar, boosting buying interest in Asian stock markets.
Previously, the Thai stock market had underperformed its peers in the region, prompting a short-term rebound while awaiting further reports on the performance of the banking sector.
The advisory sets a support level at 1,335 points and a resistance level at 1,360 points, suggesting that if the index fails to break through, it may experience sideways movement, potentially softening.
