Bangkok, May 24 – Analysts believe the market is waiting for clarity to form a government. After the flow of teeth continues to flow out. The outflow is estimated to be no more than 100 billion baht, and the flow is expected to return after voting for the prime minister.
After the election on May 14, 2023, the Thai stock market index (SET), foreign investors, net sales (Fund Flow) continued by Mr. Natthaphon Kamthakrua, Director of Securities Analysis Department, Yuanta Securities (Thailand) Co., Ltd. Revealed that in the past Foreigners sold net stocks and bonds totaling more than 80 billion baht. because investors wait for clarity establishment of a new government Vote for Prime Minister which in the past when there was an election The flow of teeth will flow in. and the stock will go up But this time is different. due to election results The government has changed the group, changed the poles, compared to the elections in Greece. Found that after the election, the stock rose 6% because it got the same government. But the elections in Thailand are facing difficult conditions in forming a government and a new group But believe that when the government no matter what pole Will result in the flow of teeth back in. because foreigners do not look at the polar group in short term trading
However, there is a chance that the flow will flow until August 2023 according to the Prime Minister's voting timeline. in both stock and bond markets But if there are supporting factors that can make it more clear, such as supportive votes and the senator's attitude, the stock market may gradually recover before August, but still have to wait and see the ECT's stance on the holding case. share Mr. Phitha's ITV Lim Charoenrat The party leader has come a long way. But it is expected that the fun flow will flow out at least half of last year's net buy at 200 billion baht, which is unlikely to exceed 100 billion baht. US debt and the Fed's interest rate stabilization.
“Compared to the 2019 election, it was found that 2 weeks before voting for Prime Minister In June 2019, stocks rose 2%, foreigners bought more than 46,000 million baht and in July 2019, another net purchase of about 20 billion baht, so 2 months, a total net purchase of more than 60 billion baht, after that will wait and see the policy This will have a long-term effect on the tooth flow. According to the fundamentals of the country, ”said Mr. Nattaphon.
While Mr. Prakit Siriwatanaket, Managing Director Merchant Partners Asset Management Co., Ltd. It is expected that the government will be formed according to the timeline, with the end of July 2023 the Prime Minister and the beginning of August 2023 the cabinet. despite some obstacles but believes that a government can be formed and that the coalition's MOU will form a government if it actually happened will have a positive effect on banking stocks especially the policy to strengthen SMEs Because any bank that has a lot of credit limits for SMEs It will benefit, resulting in a decrease in NPL. The hospital group, the retail group, are interesting because they are the group that will benefit.
While this period is still a good time to invest in SSF and RMF, if it is as expected that the MPC will raise interest rates once again this year by another 0.25% to 2.00%, the appropriate index level is 1,577 points, but now the index is much lower than it should have been. It is a good time to invest. It is expected that the index at the end of 2023 will be at 1650 – 1700 .-Thai News Agency
Source: Thai News Agency