US bond yields shrinking pushed Thai stocks to close at +17.01 points

Thai stocks turned around and closed at +17.01 points, brokers noted that Thai stocks turned around and rebounded strongly in the evening before the market closed to receive the news. US yields are contracting and this is in line with regional stock markets after US GDP improved better than expected. This may push the Fed to maintain high interest rates for an extended period. But it is a slight positive sign for the stock market. While fears are growing of a war between Israel and Hamas, it has not yet spread to neighboring countries. Looking at the investment framework for next week, it will fluctuate in the range of 1370-1400 points, but if it breaks the 5% level again, look for the support level at 1350 points and if it drops below 4.8%, that could push the trading group higher. To 1430 points.

The Thai stock market closed for trading on October 27, 2023, rising +17.01 points or +1.24%, closing at 1,388.23 points with a trading value of 41,247.37 million baht, while the total stock trading today amounted to the index swinging sideways before recovering in the evening before the market closed. During the day, the index rose to the maximum at 1,390.79 points, and in the opposite direction, it decreased to the minimum at 1,366.19 points.

While the number of securities that changed today increased by 329 securities, remained unchanged by 148 securities, and decreased by 168 securities.

In terms of trading volume classified by investor group, it was found that local investors achieved net sales of more than 2,167.95 million baht, and securities company accounts achieved net sales of more than 377.22 million baht. On the other hand, it was found that foreign investors net bought more than + 1,328.70 million baht and institutional investors net purchase over +1,216.48 million baht

The securities with the highest trading value are 5 securities
1.CPALL’s trading value reached 2,055.74 million baht, closing at 55.00 baht, down 0.25 baht.
2. The trading value of KBANK shares reached 1,997.53 million baht, closing at 132.00 baht, an increase of 2.50 baht.
3. The trading value of SCB shares reached 1,785.23 million baht, closing at 100.00 baht, an increase of 2.75 baht.
4.PTT’s trading value reached 1,600.86 million baht, closing at 33.50 baht, an increase of 0.75 baht.
5. BBL’s trading value reached 1,418.50 million baht, closing at 158.50 baht, an increase of 0.50 baht.

As for the SET100 index, the five classifications with the most positive price increases are:
1.SCC stock closed at 293.00 baht, an increase of 6.00 baht or 2.09%.
2.DELTA stock closed at 76.25 baht, an increase of 4.00 baht or 5.54%.
3.EGCO stock closed at 121.00 baht, an increase of 3.00 baht or 2.54%.
4.KCE stock closed at 51.75 baht, an increase of 2.75 baht or 5.61%.
5.CBG stock closed at 67.25 baht, an increase of 2.75 baht or 4.26%.

As for the SET100 index, the five classifications with the largest price declines are:
1.BH shares closed at 256.00 baht, down 2.00 baht or 0.78%.
2.MEGA shares closed at 41.75 baht, down 1.50 baht or 3.47%.
3.BDMS stock closed at 26.25 baht, down 0.50 baht or 1.87%.
4.THG stock closed at 62.50 baht, down 0.50 baht or 0.79%.
5.PSL stock closed at 8.60 baht, down 0.30 baht or 3.37%.

While the SET100 index closed at 1,904.44 points, an increase of 27.13 points, or 1.45%, the SET50 index closed at 859.26 points, an increase of 12.37 points, or 1.46%, and the May Market index closed at 399.90 points, an increase of 4.12 points. Or 1.04%.

Today, the Thai stock market rebounded better at the end of the afternoon, said Mr. Sarawot Tikochawalit, Senior Director of Securities Analysis Department at RHB Securities (Thailand). In line with this, most regional markets have a positive trend. This is because the yield on 10-year US government bonds (bond yield) contracted because US GDP was better than expected. Most investors are concerned that next week’s Fed meeting may signal that interest rates will remain steady for longer than expected. When bond yields contract, it’s a slightly positive signal for the stock market. Including the conflict situation in the Middle East. Israel has not yet launched any ground attack on Gaza. Therefore, it has not spread yet.

“Stocks that are expected to benefit from a slowdown in bond yields, such as power plants, financial companies, and large-cap stocks whose prices fell significantly today, recovered and received buybacks. Meanwhile, the retail sector has not recovered much. Because cryptocurrency policy is still not… “Clear.”

As for market expectations next week, the market situation will depend on the course of the war in the Middle East. Bond yield: If the bond yield fluctuates in the range of 4.8-5%, the SET is expected to fluctuate between 1,370-1,400 points, but if it exceeds 5%, the SET is expected to fall to the support level of 1,350 points. If it is less than 4.8%, the SET index has a chance to rise to 1430 points, recommending shares of power plants, financial and petrochemical groups.

“There are still no new agents in the country. We recommend monitoring US and local bond yields. But Thai bond yields rarely fluctuate on news of declining digital wallet distribution volume. Making the swing lighter Therefore, we should follow the progress of the digital wallet project again next week.” Mr. Sarawat concluded.