Thai Stocks Soar: Dow Jones Futures Rally on Fed Rate Cut Hopes, Tourism Boost on the Horizon

Market Performance

The morning session closed at 1,445.95 points, an increase of 10.18 points (+0.71%), with a trading value of about 34,722 million baht.

The highest level was 1,446.78 points, and the lowest level was 1,436.14 points.

Market Analysis

According to Mr. Wichit Arayapisit, Investment Strategist at Liberator Securities, the Thai stock market improved in the morning, similar to the Asian stock market, and Dow Jones futures responded positively to the US Federal Reserve’s (Fed) interest rate cut of 0.50%, which was more than expected by economists.

However, Fed Chairman Powell stated that he would be cautious about cutting rates in the next period, resulting in an initial fluctuation in the US stock market before reversing back up.

In Thailand, the government’s preparation to announce measures to stimulate tourism is expected to encourage the UDG to gradually improve.

Afternoon Trend

The market is expected to continue moving in positive territory, accepting the downward trend in interest rates and the government’s economic stimulus, with support at 1,425 points and resistance at 1,450 points.

Top-Traded Securities

• BBL: trading value of 1,643.87 million baht, closed at 153.50 baht, down 1.50 baht.
• KBANK: trading value of 1,607.78 million baht, closed at 155.00 baht, down 2.00 baht.
• EA: trading value of 1,347.98 million baht, closed at 9.65 baht, an increase of 0.20 baht.
• GULF: trading value of 1,153.19 million baht, closed at 57.50 baht, an increase of 2.00 baht.
• BDMS: trading value of 1,079.43 million baht, closed at 30.00 baht, an increase of 0.25 baht.