Fitch Revises Thailand's Credit Outlook to Stable, Boosting SET50 Futures

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Fitch Ratings has raised Thailand's credit outlook from negative to stable, helping SET50 Index Futures trade higher today. Worut Rungkham, Director of Analysis at YLG Bullion Futures Co., Ltd., said the support came from both domestic and international factors, especially expectations that foreign investor money will flow back into Thai stocks, particularly the banking group. The market is also awaiting the meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the White House on September 24, which is expected to discuss rare earth minerals, the situation in the Middle East, and the AI industry, with Jensen Huang of Nvidia also attending. This is supporting AI-related stocks, including DELTA and the Thai electronic components group, which have moved higher. For tomorrow, the index is expected to hold at a high level, though there may be some pullback, it should remain limited. Meanwhile, tomorrow's cabinet meeting is expected to consider extending the Thai Help Thai Plus measure, which could trigger a sell on fact. Support is estimated at 1,076 and 1,069 points, with resistance at 1,087 points. Gold prices today pulled back on profit-taking, but the decline is seen as limited. The estimated support range is 4,640 and 4,335 U.S. dollars per ounce, with resistance at 4,383 and 4,403 U.S. dollars per ounce. The SET50 index closed at 1,077.66 points, up 7.90 points, or 0.74 percent.

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