Thailand Stock Market Status: 8.55 points down against foreign countries. A strong dollar puts pressure on digital wallets in the long run

InfoQuest News Agency (25 Mar. '24)

The SET closed today down 8.55 points (-0.62%) at 1,372.49 points, with a trade value of 41,151.59 million baht. Analysts indicated that the Thai stock market fell on par with overseas today. On Friday, the Dow Jones received profit-taking pressure after learning that the Fed had already cut interest rates. Meanwhile, a strengthening dollar makes Asian currencies attractive. As a result, Asian stock markets are negative. There are no new issues in the “digital wallet” at the time of reporting, and it is delayed until the 4th quarter of 2024. Tomorrow's trend is waiting to follow the US GDP-PCE, which is expected to provide the first support frame at 1,368, and the index is expected to turn sideways on the downside. If the points fall, the next one is 1,368 points.1,355 points, but if it does not fall, there is a chance to go up to the resistance levels of 1,380 and 1,390 points.

The SET today closed down 8.55 points (-0.62%) at 1,372.49 points, with a trade value of 41,151.59 million baht.

Today the stock trading index is moving in negative territory with its lowest point at 1,368.21 points and highest point at 1,385.61 points.

In terms of stocks, today's change was up by 148 stocks, down by 343 stocks and unchanged by 167 stocks.

Director of Securities Analysis at AIRA Securities Mr. Narongdet Chanthabaisarn said the Thai stock market fell in line with international markets today. On Friday, the Dow Jones gave up profit-taking after learning that the Federal Reserve (Fed) has sent signals to cut interest rates three times this year. Meanwhile, the dollar continues to strengthen. This makes Asian currencies unattractive and squeezes capital outflows. As a result, Asian stock markets moved in a negative direction today.

While announcing the digital wallet project in the afternoon, there was no new issue, it seems that there is a delay than before. The policy was initially expected to come into effect in Q1-Q2 2024, but it was postponed to Q4 2024.

Today, which is the first day that the stock market has extended its afternoon trading hours by 30 minutes, is not expected to have a significant impact on the movement of the index.

The trend index of the Thai stock market tomorrow is expected to turn sideways and move down. This week, investors are waiting to follow important numbers such as gross domestic product (GDP) numbers in 4Q23 and inflation numbers from the Personal Consumption Expenditure (PCE) Price Index report in February.

The first support will give a range of 1,368 points and if it is broken, the next support level will be at 1,355 points, but if it is not broken, the index is likely to adjust to the resistance level of 1,380-1,390. points.

In respect of bonds with high trading value, 5 bonds

PTT traded at 2,350.74 million baht, closing at 33.75 baht, down 0.25 baht.

ADVANC traded at 1,559.13 million baht, closing at 208.00 baht, down 1.00 baht.

KTB traded at 1,443.25 million baht, closing at 16.80 baht, unchanged.

BH traded at 1,255.39 million baht, closing at 222.00 baht, down 5.00 baht.

CPALL traded at 1,244.99 million baht, closing at 54.50 baht, an increase of 0.25 baht.

Varianthon chirinok/Ratsada Kongunthian

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