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Thai Stocks Teeter on the Brink: Selling Pressure Mounts Amidst Wait for New Catalysts - News Directory 3

Thai Stocks Teeter on the Brink: Selling Pressure Mounts Amidst Wait for New Catalysts

September 20, 2024 Catherine Williams Business
News Context
At a glance
  • Weerawat Wirojphoka, Senior Director of the Securities Analysis Department of Investment Advisory Securities Company (BPO) FSS International Company Limited, stated that the Thai stock market followed the direction...
  • The Bank of Japan (BOJ) kept interest rates as expected, but the index's technical picture shows an adjustment to the Overbought zone, causing a breakdown.
  • Next week's trend is expected to see the index fluctuate within a range, awaiting new factors and US economic figures to predict signs of interest rate cuts from...
Original source: infoquest.co.th

Thai Stocks Closed at 1,451.69 Points, Down 3.15 Points

Editor’s Picks, Stock News
17:24, 2024-09-20

Market Summary

  • SET closed today at 1,451.69 points, down 3.15 points (-0.22%), with a trading value of approximately 67,577.19 million baht.
  • The index rose in the morning but turned negative in the afternoon, with a high of 1,462.35 points and a low of 1,451.69 points.
  • 282 securities increased, 223 decreased, and 167 remained unchanged.

Expert Analysis

Mr. Weerawat Wirojphoka, Senior Director of the Securities Analysis Department of Investment Advisory Securities Company (BPO) FSS International Company Limited, stated that the Thai stock market followed the direction of other Asian markets in the morning but fell in the afternoon due to selling pressure after the market received news about important factors.

The Bank of Japan (BOJ) kept interest rates as expected, but the index’s technical picture shows an adjustment to the Overbought zone, causing a breakdown.

Next week’s trend is expected to see the index fluctuate within a range, awaiting new factors and US economic figures to predict signs of interest rate cuts from the Federal Reserve (Fed). The resistance level is 1,460-1,465 points, and the support level is 1,440-1,445 points.

Top 5 Securities by Trading Value

  • BANPU: 3,891.13 million baht, closed at 7.40 baht, up 0.85 baht.
  • BDMS: 3,577.13 million baht, closed at 30.50 baht, up 0.50 baht.
  • PTTEP: 2,739.49 million baht, closed at 138.00 baht, unchanged.
  • CPALL: 2,627.59 million baht, closed at 65.00 baht, up 0.25 baht.
  • BBL: 2,039.00 million baht, closed at 154.50 baht, down 0.50 baht.

By InfoQuest News Agency (20 September 2024)

Tags: SET, SET Index, stock market, Thai stock market, Thai stocks

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