SET Index up on first day

The index peaked at 1,041.83 points and reached the lowest level at 1,034.02 points. The total trading value was Bt18.969 billion.

According to Asia Plus Securities, the rise of the index in the morning session at the Stock Exchange of Thailand is expected to be in line with the rise of foreign stock markets in response to positive US and China economic figures early this week.

According to KT Zeamico Securities, the hike of global crude-oil prices has benefited energy stocks such as PTT and PTT Exploration and Production, which also benefits the SET.

Sicco Securities said foreign investors made net buys of Bt850 million during the morning session, especially in energy stocks followed by bank stocks.

DBS Research, which expects the SET Index to end this year at 1,170 points, forecasts that the exchange will be bearish in the short term.

It recommends that investors reduce exposure in anticipation of rising risk aversion in the first half. The market should run further until the first US Federal Reserve rate hike, expected in mid-2013.

"There were several severe negative developments during the SET rally in 1990-1994. But after each consolidation, the liquidity-driven market continued to trend up until the first Fed Funds rate hike in early 1994. The current rally seems to be following a similar trajectory," it said.