Thai Stocks Soar: Morning Market Sees 5.42-Point Surge as China’s Economic Boost Sends Investors Rushing In
Thai Stock Market Closes Positive, Boosted by China’s Economic Stimulus
InfoQuest News Agency (24 Sep ’24)
The Thai stock market closed this morning at 1,453.32 points, a 0.37% increase from the previous day, with a trading value of approximately 25,277 million baht. This upward trend is in line with regional markets, which have been positively impacted by China’s economic stimulus measures.
Market Performance
The morning session saw the Stock Exchange close at 1,453.32 points, with a trading value of about 25,277 million baht. The index fluctuated between 1,456.00 points and 1,447.59 points during the morning session.
Expert Analysis
According to Mr. Wathan Jitsomnuk, Director of Strategic Analysis at Phai Securities, the Thai stock market’s positive trend is a result of the Chinese government’s announcement of monetary easing measures to stimulate the economy. This has had a positive impact on stocks that are expected to benefit from China’s economic recovery.
Additionally, the continued strengthening of the baht and the influx of foreign capital have also contributed to the market’s positive performance. The government’s plan to distribute 10,000 baht to vulnerable groups starting tomorrow is expected to support public spending, while the Vayupak Fund’s investment in the stock market, valued at around 150 billion baht, is set to begin in October.
Afternoon Market Trend
The market is expected to continue its positive trend in the afternoon, with support at 1,447 points and resistance at 1,460 points.
Top-Traded Securities
- CPALL: trading value of 1,364.72 million baht, closed at 64.50 baht, down 1.00 baht.
- DELTA: trading value of 1,225.88 million baht, closed at 111.00 baht, up 4.00 baht.
- MTC: trading value of 995.87 million baht, closed at 49.25 baht, down 2.50 baht.
- BANPU: trading value of 934.59 million baht, closed at 7.35 baht, up 0.05 baht.
- IVL: trading value of 877.22 million baht, closed at 24.90 baht, up 0.40 baht.
By Phacharathorn Phumikham/Sasithorn Simaporn