บทวิเคราะห์ (Research)

KSS Daily Strategy: The SET is expected to "recover" today, with resistance at 1355/1360 and support at 1335/1330. U.S. stock markets were closed for Martin Luther King Day, while futures rose an average of +0.4-0.5%. Policy remarks by President Trump following his inauguration reiterated his "America First" stance, but a positive signal for EM Asia and the SET is his mention of plans to manage inflation and a measured approach to trade wars, allowing time for further study. This contrasts with earlier market adjustments due to concerns over inflation upside following Trump's election victory. Consequently, the U.S. 10-year bond yield dipped another -3 bps to 4.57%, the Dollar Index weakened to around 108, and the Thai baht appreciated to approximately 34.2. It is expected that the market will revise its view on the U.S. interest rate cycle, boosting confidence in the continued downtrend for 2025F. This is favorable for risk assets, particularly laggard equity markets, with the SET standing out due to its attractive valuation in the investment zone (current ERP at 4.0%, within AVG+1 S.D., signaling a turnaround in non-crisis scenarios). The SET is anticipated to begin recovering today, led by stocks in the Peaking Yield theme (power plants, high-yield leasing, high debt), particularly those that have underperformed YTD. Recommended stocks for today include GULF, GPSC, and JMT