Bangkok The Thai stock market rose more than 10 points this morning after falling 30 points yesterday, rebounding in line with regional stock markets.
Thai stocks opened the market positive by more than 10 points and at 10.25 a.m. the SET index was at 1,376.98 points, an increase of 5.76 points (+0.42%).
Mr. Chaiyot Chiwangkun, Director of Securities Analysis Department, Krungsri Securities, said that Thai stocks are recovering from positive foreign factors that come to support them. Both US bond yields weakened and Asian stock markets opened mostly positive in the morning. After being heavily sold off yesterday, for example, Australian stocks recovered from the lowest level in 1 year. Important support levels that should not be broken are 1,350, 1,360 points. However, at a time when the market is shrinking strongly like this. It is considered an opportunity to buy accumulated stocks. for long-term investment You should buy 20-30% at a time because the stock cycle is always going down.
Today the Asian stock market Plus, the US and European sides decreased because the market was pressured by concerns that the US Federal Reserve Or the Fed held interest rates high for longer than expected. After the US economy expanded the strongest in nearly 2 years, with GDP in the 3rd quarter of 2023 expanding 4.9%, higher than analysts expected at 4.7% after expanding 2.0% and 2.1% in the 1st and 2nd quarters respectively. number
Miss Kanchana Chokpaisansin Research executive Kasikorn Research Center Said that the baht this morning adjusted to the level of 36.22-36.24 baht per dollar. This morning (10.05 a.m.) compared to yesterday's market closing level of 36.25 baht per dollar. Even though the baht is still adjusting within the range But there should be some support from the increase in gold prices in the world market. Meanwhile, support for the dollar has decreased after US bond yields Squat back down. And the market is waiting to follow signals from the Fed to assess its stance on the direction of US policy interest rates. again at next week's FOMC meeting.
For the framework of the movement of the baht today Preliminarily expected at 36.10-36.30 baht per dollar. Meanwhile, important factors that need to be followed include signals of foreign capital. Asian currency trends and the situation in the Middle East Important economic figures for the United States include inflation measured from PCE/Core PCE Price Indices in September, confidence index and inflation expectations from the perspective of consumers in October - Thai News Agency
Source: Thai News Agency