Kasikorn Thai expects SET today in a range of 1,585-1,610 points, watching US Core PCE

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Kasikorn Securities estimates that the SET Index today will move in a range of 1,585-1,610 points, with the market watching the US August PCE and Core PCE figures, which are expected at 3.7% and 3.3% year-on-year respectively, before following non-farm payrolls data later in the week. Previously, the SET Index closed at 1,594.30 points, down 8.07 points, or 0.50%, pressured by selling in banking and energy stocks, with foreign investors net selling Thai shares of 7.685 billion baht. Meanwhile, the 10-year US bond yield moved near 5.25%, the highest since 2007, and the 30-year bond yield rose above 5.6%. New York Fed President John Williams said the Fed has no need to rush another rate hike, causing the market to somewhat reduce expectations for a rate increase in October. For strategy, it recommends gradually accumulating good fundamental stocks, with today's standout picks being ADVANC with a target price of 385.34 baht and EASTW with a target price of 6.70 baht.

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Market awaits US August PCE/Core PCE and Williams' comment that the Fed need not rush another hike, trimming October hike odds.

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