Thai stocks opened the market down 26.23 points, frightened by the inflation crisis.
Date 19 May 2022 time 10:58
Thai stocks opened 26.23 points, fearing the US interest rate hike to curb the inflation crisis.
Thai stocks opened this morning (May 19, 65). The index dropped 1,600 points, down 26.23 points or -1.62% at 1,594.10 points before rising above 1600 points again.
SCB Securities (SCB) estimates that the Thai stock market will decline today. Because of concerns about raising interest rates to curb inflation, the SET is expected to return to a lower rate after seeing a limited recovery. while the main pressure factor remains as the Fed has to speed up interest rates to curb inflation. and the economic slowdown The support level is at 1600 and 1590 points, respectively, that have the opportunity to test. The upper frame is limited to 1625 points.
SCB Securities views that the factors that must be monitored include
– Keep an eye on Russia’s stance and response after Finland-Sweden officially joins NATO.
– Thai Ministry of Public Health indicates that the situation of Covid-19 continues to be good; expects to enter the endemic disease half a month earlier than before Prepare to adjust to contagious disease. Surveillance. Positive for open-town shares
– The BOI resolved to maintain diesel prices at 32 baht/liter until 22 May after the Cabinet extended the excise tax reduction of 5 baht/liter from 21 May – 20 July 65 by the Oil Fund. Currently, it is more than 7.2 billion baht.
However, even in the short term, the SET has a chance to rebound after a sharp downturn in the previous period, but the upside is still limited after there is no new support factor. And there are still external risks. Our investment strategy therefore recommends “Selective Buy” in quality stocks with specific positive factors.
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