Thai Stock Sentiment Plummets on October 3, 2023 with Weakest Baht Value in 10 Months

Thai Stock Market Sees Negative Sentiment as Index Drops to Lowest Level in Almost 3 Years

October 3, 2023 – The Thai stock market faced a day of negative fluctuations, with the index continuously falling since the opening bell. Reaching a low of 26 points, the index plummeted to 1,443.24 points, the lowest it has been in almost three years due to the weakened baht value, which hit a 10-month low. As a result, investors decided to sell off their Thai market stocks. The trading day concluded at 5:02 pm, with the stock index closing at 1,447.30 points, marking a decline of 22.16 points or 1.51%. The traded value stood at 60,384.79 million baht. Likewise, the MAI market closed with a decrease of 8.29 points or 1.87%, settling at 435.95 points. The trading value in this market amounted to 3,350.61 million baht.

Factors Hindering Stock Market Growth

Apichat Phubanjerdkul, the Senior Director of the Strategic Analysis Division at TISCO Securities, highlights the lack of significant driving factors in the short term for the Thai stock market. The investment climate is currently overshadowed by concerns regarding the interest rate direction of the US Federal Reserve, which shows the potential for prolonged high rates. Furthermore, the transition period for the 2024 budget has caused delays and a lack of investment to stimulate the economy for the remainder of the year. Consequently, the last quarter is expected to see limited investment activity.

Top 5 Traded Securities

  1. PTT: Closed at 87.00 baht, reflecting an increase of 4.25 baht.
  2. PTTEP: Closed at 33.25 baht, indicating a decrease of 0.25 baht.
  3. Delta: Closed at 228.00 baht, remaining unchanged.
  4. Deposit: Closed at 170.00 baht, with a discount of -1.00 baht.
  5. Kasikorn Bank: Closed at 101.50 baht, experiencing a decline of -1.00 baht.

Thai stock sentiment on October 3, 2023 fluctuated in negative territory throughout the day. The index fell since the market opened. During the day, it fell to a low of 26 points, making the index 1,443.24 points, the lowest in almost 3 years from the weakest baht value in 10 months, causing investors to sell stocks out of the Thai market. as of 5:02 pm, the stock index closed at 1,447.30 points, down 22.16 points or 1.51% with a traded value of 60,384.79 million baht, while the MAI market closed at 435.95 points, down 8.29 points or 1.87% with a value trading of 3,350.61 million baht.

Apichat Phubanjerdkul Mr. Senior Director of the Strategic Analysis Division, TISCO Securities, said that although the Thai stock index fell significantly last month, But there is still a lack of significant driving factors in the short term. Especially in the current investment climate. It is also overshadowed by concerns over the US Federal Reserve’s interest rate direction. It can stay high for a long time. Make the yield on debt instruments It is also a transition period for the 2024 budget which has caused delays. This causes a lack of investment to drive the economy for the rest of this year, so not much investment is expected during the last quarter.

The 5 most traded securities are:

1. PTT closed at 87.00 baht, up 4.25 baht.

2. PTTEP closed at 33.25 baht, down 0.25 baht.

3. Delta closed at 228.00 baht, unchanged.

4. Deposit closed at 170.00 baht, discount -1.00 baht.

5. Kasikorn Bank closed at 101.50 baht, down -1.00 baht.

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