Thai Inventory Market Exhibits Indicators of Restoration as Baht Strengthens and Fed Indicators Fee Cuts

InfoQuest Information Company (21 Aug ’24)

SET closed this morning at 1,334.15 factors, a rise of 6.03 factors (+0.45%), buying and selling worth of about 23,032 million baht Analysts revealed that the Thai inventory market rebounded within the morning, supported by giant inventory purchases after the baht proceed to strengthen, drawing foreigners again into the market. And in addition anticipate the Fed to ship a clearer sign to chop rates of interest. Whereas ready to listen to from the MPC assembly this afternoon the development might proceed to fluctuate in optimistic territory. Prepared to supply resistance at 1,340 factors and assist at 1,320 factors.

The Inventory Trade closed the morning session at 1,334.15 factors, a rise of 6.03 factors (+0.45%), buying and selling worth of roughly 23,032 million baht.

Morning buying and selling The index moved principally into optimistic territory. The best stage was 1,336.56 factors and the bottom stage was 1,327.12 factors.

Chaiphon Nomphitakcharoen Mr Managing Director The Securities Buying and selling Division, Bualuang Securities, mentioned that the Thai inventory market this morning rose to assist the shopping for of huge shares. A part of it’s believed to be because of the continued appreciation of the baht. inflicting overseas traders to return again and purchase And the market nonetheless expects that the assembly of the Federal Reserve (Fed) in Jackson Gap will ship a clearer sign of a discount in rates of interest.

In the meantime, traders are nonetheless ready to observe the Financial Coverage Committee (MPC) assembly this afternoon. Particularly the committee votes on what the outcomes can be. As for different inventory markets in Asia within the morning, most moved into unfavorable territory.

The afternoon development is predicted to see our native inventory market proceed to swing in optimistic territory. The resistance stage is 1,340 factors and the assist stage is 1,320 factors.

As for the securities with the very best buying and selling worth, 5 securities

BDMS buying and selling worth 1,323.07 million baht, closed at 27.75 baht, a rise of 0.50 baht.

GULF buying and selling worth 1,274.87 million baht, closed at 49.75 baht, a rise of 1.25 baht.

CPALL buying and selling worth 1,144.50 million baht, closed at 59.50 baht, a rise of 0.50 baht.

AOT buying and selling worth 1,035.29 million baht, closed at 59.50 baht, a rise of 1.25 baht.

KBANK buying and selling worth 929.86 million baht, closed at 140.00 baht, a rise of 1.50 baht.

By Jirayut Chansongsakul/Sasithorn Simaporn