SET Jumps 14pts At the Opening Bell, Following Positive Sentiment in Regional Markets

SET Index made a rebound on Tuesday, gaining 13.78 points or 0.97% at the open to 1,422.09 points with a trading value of 3.42 billion baht. The surge came after the Caixin/Markit manufacturing Purchasing Managers’ Index in November came in at 54.9, which was the highest reading in a decade.

 

Finansia Syrus Securities (FSS) expected SET Index to move in sideways trends between 1,400-1,420 points. In a short-term movement, a technical rebound could occur, following the direction of regional markets, boosted by the Chinese Caixin/Markit manufacturing Index in November.

However, the analyst recommended investors to monitor the OPEC+ meeting as the decision is still uncertain whether the group will delay their increase in production output of 2 million barrels per day by January or not.

 

CGS-CIMB Securities stated that the Thai stock market might be able to advance in today’s session, but with limited upside due to yesterday’s plummet over MSCI rebalancing, resulting in a net sell of over 4,000 million baht from foreign investors. Meanwhile, the Thai stock market has been outperforming recently, resulting in a profit-taking, coupled with concerns over the coronavirus outbreak in Chiang Mai.