The Thai stock market is showing signs of positive momentum as it heads toward March 10, 2025, fueled by optimism surrounding economic stimulus discussions. Analysts at Krungsri Securities project the market will trade with positive sentiments driven by anticipated government measures to bolster economic growth and relieve pressures on certain sectors.
According to their analysis, the Stock Exchange of Thailand (SET) is expected to experience a Sideways/Up trend, with key resistance projected between 1212 to 1227 points, and support levels anticipated at 1195 and 1187 points. These expectations are underlined by strong economic indicators, including the recent report indicating the creation of 151,000 jobs outside of agriculture, slightly below expectations, and the unemployment rate nudging up to 4.1% from 4.0%.
The prospect of what is being termed as a Soft Landing for the U.S. economy has began to ease investor concerns around economic conditions on the global scale. Analysts believe this will lead to increased investment activities as investors explore opportunities within markets showing signs of recovery.
On this same day, the Thai government's economic board is set to convene to discuss several key measures including the much-anticipated Digital Wallet Phase III, which aims at promoting financial inclusion, and initiatives within the real estate and automotive sectors, which are seen as pivotal for invigorate local investments.
Notable financial instruments are also poised to benefit from these developments. New money inflow measures are being evaluated by the government to bolster investor confidence. One promising initiative includes the ThaiESG, which proposes to increase the limits for personal tax deductions to incentivize investment within environmentally sustainable projects, projected to raise the deduction ceiling to 600,000 baht.
The market is demonstrating viable significance for domestic stocks, particularly as analysts recommend shares from companies like CPALL, AP, and WHA due to their pivotal roles within these sectors under stimulus measures. The recommendation highlights the confidence experts have moving forward.
Market analysts suggest this is the time to buy, especially with the introduction of new saving programs aimed at encouraging longer-term investments. The Thai Stock Exchange is launching the Investment Saving Account (TISA), which aims to exempt investors from several tax obligations usually associated with capital gains and dividends, reflecting incentive structures akin to those typically seen abroad.
Analyst recommendations today reflect the strong uptrend potential within various stocks. Recommendations include:
- AMATA: Buying opportunity with target prices of 33.50 baht as advised by KSS.
- CHG: Suggested buy with targeting 2.52 baht.
- HANA: With support levels set at 16.90 and 16.60, it’s advised to set targets at 18.00 and 19.00, under 16.20 as stop-loss.
- JAS: Suggested support of 1.65 and targets between 1.75 to 1.80, stop-loss at 1.60.
- KCE: Target prices of 20.40 and 20.80 supported by levels of 19.50 and 19.20; stop-loss put below 18.50.
- WHA: Support set at 3.60, targets ranging 4.00 to 4.10, stop loss at 3.50.
- MAGURO: Buying opportunity set at 26.00 by DAOLSEC.
- ORI: Hold recommendation with target price of 2.95.
- SINGER: Speculative buy recommendation at 8.50.
- SYNEX: Target set at 15.80.
Commodities are also reflecting varied trends today. The price of Brent crude oil has increased by +1.30%, closing at USD 70.36/barrel. West Texas crude has risen by +1.02% to USD 67.04/barrel, reflecting favorable conditions for the energy sector. Meanwhile, the natural gas price saw more significant increases, up by +5.46%, closing at USD 4.639/MMBtu, showing active trading interest.
The Baltic Dry Index has made gains with +4.72% growth, closing at 1400 points, indicating improving conditions for global shipping demand. Yet, gold prices dipped slightly by -0.09%, settling at USD 2909.1/Oz, likely affected by the strengthened dollar.
Overall, the Thai stock market on March 10, 2025, is predicted to remain buoyant as liquidity remains strong, and upcoming financial measures promise to stimulate investor confidence. The analysts remain cautiously optimistic about market performance as they weigh new economic initiatives and current global market conditions.