Krungthai COMP Securities Forecasts SET Index to Fluctuate Within Range Amid Macro Factors

Key summary

Krungthai COMP Securities (KSS) forecasts the SET index will fluctuate within a range today, with resistance levels at 1,580 and 1,584 points and support levels at 1,560 and 1,557 points. The forecast cites mixed macro factors from last week, including a sharp rise in global crude oil prices near a five-month high as Brent touched $110 per barrel before easing to around $108.2 this morning, driven by tensions in the Middle East involving Iran's attacks on ships near Hormuz and Ukraine's strikes on Russian refineries. US PPI inflation for September was reported higher than expected, though 10-year US bond yields fell to approximately 5.06% (a low in about three weeks) as markets anticipate the Fed will hold interest rates at its October meeting, with a 15% probability according to Fed Watch tool data. In Asia, MSCI is considering downgrading Indonesia's status from an Emerging Market to a Standalone Market due to free float and transparency issues, which could encourage passive inflows into Thai stocks. Domestic focus this week includes bank earnings reports throughout the week and previews of the real estate sector. The social security organization is scheduled to discuss adjusting hospital treatment rates for contracted hospitals today. Highlighted stock themes include Energy Security (PTT, PTTEP, PTTGC, TOP), short-term catalysts related to social security hospital adjustments (BCH) and iPhone sales (COM7), and funds targeting specific stocks (KTB, ADVANC, PTT, GULF, DELTA KBANK). Recommended stocks are KBANK, PTT, and COM7.