SET to Continue the Rally, Supporting by Fund Inflow and Higher Oil Prices

CGS-CIMB Securities expected SET Index to continue the rally, in line with the regional markets that moved in positive territory even though some markets faced a profit taking such as the Singapore and Malaysia stock markets.

 

Overall, stocks in Asia still traded in positive territory around 1% above yesterday’s closing price, buoyed by the sentiment from the U.S. stock market overnight in response to the new president and the progression of Covid-19 vaccine. Oil prices also continued to trade higher as well.

The Thai stock market is expected to extend its gain, supported by the buying pressure from Foreign Investors that net bought 18 billion baht worth of Thai shares in yesterday’s session. However, the index could slow down during the hike due to a fast gain of 150 points in a short time.

CGS-CIMB Securities expected SET Index to move between 1,330-1,360 points.