Thai Stock Market Closes at 1,415.41 Points, Down 0.88%

The Stock Exchange of Thailand (SET) closed today at 1,415.41 points, down 12.62 points (-0.88%), with a trading value of approximately 74,023.5 million‍ baht.

The market saw a⁤ volatile trading‍ session, with the index reaching a high of 1,428.13 points and a low of 1,405.30 points.

In terms of ⁤securities, 135 securities increased, 387 securities decreased, ⁣and⁣ 143 ⁤securities remained unchanged.

Market Analysis

According to Mr. Sarawut Techochawalit, Senior Director of Securities Analysis Department,⁤ RHB Securities (Thailand), the Thai‌ stock market fell in line with most foreign stock markets, which were also declining. The main pressure came from energy and refinery⁤ groups​ after the price of crude oil fell below $70/barrel, due to concerns about the slowdown in global oil demand.

Additionally, profit-taking in large stocks, such as SCC and the retail sector, also contributed to the decline.

US Consumer Price Index (CPI) Release

Investors are eagerly awaiting the release of the US Consumer Price Index (CPI)⁢ this evening, which will provide insight into the ‌trend⁢ of interest rate cuts by the Federal Reserve (Fed). The market expects the CPI to increase by ‌2.6% year-over-year and the Core‍ CPI to increase by 3.2% year-over-year. If the numbers come out lower‌ than expected, it‍ will ‍support the Fed to cut interest rates quickly and strongly, which will have a positive impact on ‍foreign capital flowing into the ASEAN market, including Thailand.

Market Outlook

The market trend tomorrow is expected to rebound after coming down hard to test the support level of 1,405 points before bouncing back up somewhat. Investors are advised to follow the Prime Minister’s announcement of government policy to Parliament and​ the European Central Bank (ECB) meeting, which is expected to cut interest rates by another 0.25%.

The support level is 1,405 points, and the resistance level is 1,430 points.

Top 5 Securities by Trading Value

• PTT: trading value of 3,699.69 million baht, closed at 33.00 baht, down 0.75 baht.
• BH: trading value of 2,843.72 million baht, closed at 270.00 ‍baht, down 1.00 baht.
• KBANK: trading ‌value of 2,781.74 million baht, closed at 156.00 baht, up 0.50 baht.
• CPALL: trading value of 2,695.28 million baht, closed at 64.75 baht, down⁢ 1.00 baht.
• BBL: trading value of 2,563.84 million baht, closed at 154.00 baht, up⁣ 1.00 baht.

By Phacharathorn Phumikham/Sasithorn Simaporn