Thai Stocks Take a Hit: Morning Market Closes Down 2.80 Points Amid Volatile Trading
Thai Stock Market Situation: Morning Session Closes in Negative Territory
The Stock Exchange of Thailand (SET) closed the morning session at 1,463.24 points, down 2.80 points (-0.19%), with a trading value of approximately 16,815 million baht.
The morning trading index turned sideways into negative territory, with the lowest level at 1,459.26 points and the highest level at 1,466.65 points.
Market Analysis
According to Narongdet Chanthapaisarn, Director of Securities Analysis at AIRA Securities, the Thai stock market this morning turned sideways, fluctuating within a limited range after yesterday’s strong rebound. The market is pending the results of the US presidential election on November 5 and the National People’s Congress (NPC) Standing Committee meeting on November 4-8, where major economic stimulus measures are expected.
In addition, the market is awaiting the US non-agricultural employment numbers for October, which are expected to add 100,000 jobs. If the numbers exceed expectations, it will indicate a strong US economy, and the Federal Reserve (Fed) may not be in a rush to cut interest rates. However, if the numbers are lower than expected, it will create concern about the US economic situation and may lead to market volatility.
Market Trend
The trend of the Thai stock market in the afternoon is expected to change sideways in a limited range, similar to the morning session. The market provides resistance at 1,465-1,470 points, with support at 1,460 points. If broken, the next support level is 1,450 points.
Top Trading Securities
- GULF: trading value of 1,405.25 million baht, closed at 66.75 baht, an increase of 0.25 baht.
- ADVANC: trading value of 977.88 million baht, closed at 272.00 baht, down 3.00 baht.
- DELTA: trading value of 866.38 million baht, closed at 137.50 baht, down 0.50 baht.
- TRUE: trading value of 818.08 million baht, closed at 12.20 baht, down 0.10 baht.
- CPALL: trading value of 726.83 million baht, closed at 63.50 baht, an increase of 0.25 baht.
By Saowalak Ponphon/Sasithorn Simaporn