Market on High Alert: Thai Stocks See 6.55-Point Surge as Investors Await Powell’s Crucial Fed Statement
Thai Stock Market Closes at 1,455.03 Points, Down 6.55 Points
Market Summary
The Thai stock market closed at 1,455.03 points, down 6.55 points (-0.45%), with a trading value of 56,090.14 million baht.
The market opened slightly positive before contracting, with the highest point at 1,464.81 points and the lowest point at 1,449.68 points.
In terms of securities, 127 increased, 386 decreased, and 147 remained unchanged.
Expert Analysis
Mr. Narongdet Chanthapaisarn, Director of Securities Analysis at AIRA Securities, stated that the Thai stock market is resting from profit-taking pressure after rising significantly.
The market is aware of positive factors, including China’s announcement of a major economic stimulus package, and is waiting for the statement from the Fed Chairman, Mr. Jerome Powell, to assess the Fed’s attitude towards lowering interest rates.
AIRA Securities expects the Fed to send a dovish signal, causing investors to hesitate to invest.
Tomorrow’s Trend
The market is expected to swing sideways, waiting for the Fed signal, with resistance at 1,460-1,465 points and support at 1,450-1,445 points.
Top 5 Securities by Trading Value
- IVL: 2,282.12 million baht, closed at 24.40 baht, down 0.50 baht
- KBANK: 1,953.38 million baht, closed at 154.00 baht, down 2.00 baht
- EA: 1,837.87 million baht, closed at 8.40 baht, down 0.40 baht
- ADVANC: 1,706.75 million baht, closed at 264.00 baht, down 1.00 baht
- PTTEP: 1,688.70 million baht, closed at 137.50 baht, down 2.50 baht