Asia Plus Securities (ASPS) has raised its year-end target for the Stock Exchange of Thailand (SET) index to 1,523 points, up from the previous target of 1,450 points. This adjustment is attributed to the upcoming launch of Vayupak Fund units and new Thai ESG fund regulations, alongside anticipated government economic stimulus measures [2259680c].
If the Bank of Thailand decides to cut the policy rate by 0.25 percentage points this year, ASPS projects that the SET index could potentially reach 1,633 points. Further rate cuts in 2025 may push the index even higher, potentially hitting 1,700 points [2259680c].
ASPS also forecasts a 27% year-on-year increase in the financial results of listed companies for the second half of 2024, following a combined net profit of 460 billion baht in the same period of 2023. This growth is expected to be supported by an additional liquidity influx of 170 billion baht into the market [2259680c].
Key stocks recommended by ASPS include BEM, GPSC, AOT, AP, BJC, PLANB, and CBG. However, several risk factors could impact this optimistic outlook, including the upcoming US election on November 5, potential interest rate cuts by the Federal Reserve, economic stimulus measures in China, and ongoing tensions in the Middle East [2259680c].