Bangkok: Thai stocks closed the morning session up 0.29 points, with the Stock Exchange of Thailand (SET) marking a slight increase in its index. The morning session concluded at 1,253.83 points, reflecting a modest rise of 0.02%, with a trading value of approximately 22,997 million baht.
According to Thai News Agency, the rebound in the Thai stock market aligns with trends observed in regional markets. This movement was influenced by the Thai government's announcement of the dissolution of parliament. Historically, such political events have prompted a market response of about 1% in positivity, typically followed by a period of pullback as investors await further clarity on the election timeline. Analysts anticipate that the market will experience intermittent sideways trading in the near term.
Market dynamics are also affected by ongoing tensions on the Thai-Cambodian border and a scheduled call with the Thai Prime Minister, which could lead to profit-taking in key stocks such as AOT, DELTA, and ADVANC. Conversely, there is notable buying interest in SCC, VGI, and PLANB, driven by their specific market factors. Looking ahead, the afternoon trading trend is expected to remain sideways with a slight negative bias. Initial support is identified at 1,250 points, with further support at 1,240 points, while resistance levels are projected between 1,260 and 1,265 points.