Thai Stocks See Modest Gains Amid Fed Meeting Anticipation, Wayupak Sales Soar as Cabinet Greenlights 10,000 Baht Handout
Thai Stocks Closed Morning Session at 1,437.02 Points, Swinging in Narrow Range Awaiting Outcome of Fed Meeting
Market Update
- Stock Exchange: The morning session closed at 1,437.02 points, an increase of 1.49 points (+0.10%), with a trading value of around 29,074 million baht.
- Morning Trading: The index fluctuated within a narrow range, with the highest level at 1,439.35 points and the lowest level at 1,431.56 points.
Expert Insights
Mr. Wichit Arayapisit, Investment Strategist at Liberator Securities, stated that the Thai stock market in the morning was moving within a narrow range. Investors are still waiting for clarity on the outcome of the Federal Reserve (Fed) meeting on whether they will cut interest rates at the lowest level.
According to Bloomberg Consensus, a cut of 0.25% is expected, contrary to the CME Group’s FedWatch Tool, which noted that investors gave 59% weight to a 0.50% cut, increased from last week’s weight of only 30%. This reflects investor expectations that if the Fed cuts interest rates by just 0.25%, it could cause disappointment in the market.
Positive Factors in the Thai Market
In Thailand, positive factors include the Vayupak Fund, which is in the process of opening new investment units for sale. Buying demand is considered to be in good shape. Additionally, the government has announced measures to stimulate the economy by distributing 10,000 baht in the first step to vulnerable groups to stimulate the economy in the short term.
Recommendations include continuing to pursue measures to stimulate the economy, especially digital wallets and investing in infrastructure.
Afternoon Trend
The afternoon trend is expected to see the market absorb positive and negative moves alternately, with support at 1,425 points and recommended resistance at 1,450 points.
Top 5 Securities by Trading Value
- EA: Trading value of 3,866.48 million baht, closed at 9.60 baht, down 0.90 baht.
- BANPU: Trading value of 1,764.09 million baht, closed at 6.55 baht, an increase of 0.30 baht.
- AOT: Trading value of 1,722.96 million baht, closed at 64.25 baht, an increase of 1.50 baht.
- ADVANC: Trading value of 1,060.15 million baht, closed at 258.00 baht, an increase of 2.00 baht.
- BDMS: Trading value of 1,018.58 million baht, closed at 29.25 baht, down 0.50 baht.