• The Thai stock market surged to its three-month high around mid-week before paring some of its earlier gains.
The SET Index dropped slightly early in the week in line with other bourses, pressured by concerns over geopolitical conflicts and the risk of another US government shutdown. However, the SET Index later rebounded strongly, climbing to a 3-month high at 1,344.87 points, supported by foreign investor buying. Leading gains were technology stocks following the rally in US tech stocks, energy stocks benefiting from rising global oil prices, as well as renewed buying in banking stocks that had been sold off earlier.
The SET Index retreated again during the remainder of the week after the Fed kept interest rates unchanged at its first meeting of the year and signaled no urgency to cut rates. In addition, reports that the US added Thailand to its monitoring list of trading partners whose currency practices merit close attention also weighed on Thai stock market towards the end of the week. The decline in the SET Index at the end of the week was in line with regional bourses, as investors remained cautious while awaiting President Donald Trump’s announcement of the nominee for the new Fed Chair.
• On Friday, January 30, 2025, the SET closed at 1,325.62 points, up 0.85 percent over-week. The average daily trading value was THB48,068.02 million, down 14.33 percent over-week. The mai closed at 209.29 points, down 0.88 percent over-week.
• February 2-6, 2026, KSecurities expects the SET to have support at 1,300 and 1,285 points, but resistance at 1,345 and 1,355 points, respectively. KResearch advises investors to watch key factors, including Thailand’s January Inflation, 4Q-2025 performance results of Thailand’s listed companies, and foreign capital flows. The US economic data that warrant close monitoring include January Manufacturing and Services PMI/ISM, ADP Employment Report, Non-farm Payrolls, Unemployment Rate, plus Weekly Jobless Claims. Other important overseas economic indicators to monitor include the upcoming ECB and BOE meetings, January Manufacturing and Services PMI of China, Japan, Eurozone and UK, plus Eurozone’s January CPI (Flash).
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