SET Index Soars: Third Consecutive Day of Gains & Record Gold Prices in Thailand

Order Cannabis Online

In an electrifying twist for the Stock Exchange of Thailand (SET), the index has seen a remarkable upswing, climbing for a staggering third consecutive day. It even momentarily shattered the 1,200-point barrier yesterday, while gold prices soared to truly record-breaking heights. This wave of market optimism came on the heels of the Federal Reserve’s much-anticipated decision to maintain interest rates hovering between 4.25% and 4.50%.

Rakpong Charoenpong, a Senior Vice President over at KGI Securities (Thailand), chalked the buoyant market sentiment up to the Fed’s vague yet tantalizing hint that interest rates may be cut more aggressively than anyone had dared to dream. Add this to a mighty baht flexing its muscles against the US dollar, and you have a cocktail of conditions perfect for a spree of heft large-cap stock acquisitions. Cheers!

Meanwhile, over in the world of monetary policy tea leaf reading, the Federal Reserve’s infamous dot plot chart whispered sweet nothings about two potential interest rate cuts of 0.25% each this very year. Sounds like a plan, right? Well, at least it was one outlined about three months back. However, the Fed did put on its sensible hat and dialed down its GDP growth forecasts. Yet, it still found room to predict a spicy inflation rate for 2025, as ASL Securities observed. The brokerage noted that this undeterred confidence in the economy painted markets in a provocative shade of optimistic.

Investors, however, should keep their telescopes trained on Donald Trump’s trade tariff maneuvers, anticipated to take center stage come April 2. Given the U.S. remains a key export market, tit-for-tat trade tariffs could echo back onto Thailand, which is busy concocting plans to tweak its import tax structure and amp up U.S. goods imports like aircraft and soybeans. Who doesn’t love a good bean?

Locally, ASL reported a steady buzz of institutional investors indulging in ‘window dressing,’ which is expected to continue rolling out this narrative thread until the first quarter says its goodbyes. The SET faces a short-term barrier at the 1,200-point mark, with the next challenge gleaming ever-so-slightly at 1,230 points.

As for precious metals, the prospect of more rate cuts from the Fed catapulted gold prices to an all-time pinnacle at US$3,051 (let that sink in—about 108,800 Thai baht!), while Hua Seng Heng predicted resistance might bang its head at US$3,070 with a supportive floor at US$3,020, as reported by some chums at Bangkok Post.

The dividend dispatch is equally enticing, with SET-listed entities splashing out a cool 594 billion baht for the year 2024. The energy sector blew everyone else out of the park, with banks trailing behind. Despite index dips to lows not seen since the pandemic days, firms are flaunting their earnings like never before, crafting fertile ground for dividend-hungry investors. The SET remarked, matter-of-factly, “Investing in dividend stocks isn’t just about chasing high yields; understanding fundamentals and timing is key.” Hear, hear.

With an impressive 67.8% of firms still turning profits, dividend stocks keep reeling in investors seduced by the siren song of passive income. All while across Thailand, the news keeps rolling. From loco antics involving a drugged-up drama affecting the Hat Yai express to Korat Zoo’s new adorable Patagonian attraction, one thing’s for sure—there’s never a dull moment in the Land of Smiles.

So, whether it’s index surges or zoos charming the public, every day in Thailand delivers a new twist and turn that promises to shake up the scene and capture the imagination of those keeping an eye on the Southeast Asian powerhouse. Grab your popcorn, folks; it’s showtime!