Thai stocks closed 11.42 points lower as a weaker baht pressured the market into a short-term relief. Tomorrow, hope for a rebound.

Thai stocks closed today, February 8, at 1,388.60 points, down 11.42 points, with a trading value of 43.082 million baht, volatile due to the modification of economists' opinions on signals that the Monetary Policy Committee is causing the value of the baht to depreciate, pressuring the market to rest in the short term. But with the Thai economy set to recover in 2024 from increased foreign tourists and higher per capita spending, it is still seen as a supportive factor. Tomorrow the index has a chance to recover.

The Stock Exchange of Thailand (SET) index closed on February 8 at 1,388.60 points, down 11.42 points (-0.82%), turnover reached 43,082.48 million baht, net sale of foreigners 1,936.13 million baht, net sale of funds 185.69 million baht.

Mr. Kornvat Worachit, Director, Research and Investment Services, Krungsri Patanasin Securities Determine it The Thai stock market is volatile today. In response, Thai and foreign economists have gradually begun to adjust their views on the direction of interest rates in Thailand. It is expected that interest rates will be cut 1-3 times or 0.25-0.75% after the Policy Committee (MPC) meeting yesterday issued a non-unanimous decision, with two members of the committee agreeing that interest rates should be cut by 0.25%. This causes the value of the baht to fall and the stock market to halt in the short term.

However, in 2024 the Thai economy shows signs of recovery due to the number of foreign tourists entering the country and rising per capita/trip expenses. At the same time, the monetary policy that has begun to ease will support the capital market, causing the stock market dividend yield gap and the 10-year government bond yield to increase and support the specific bond group in the coming period.

Market trend tomorrow (February 9, 2024) Look at the likelihood of the index recovering within this framework.The support level is 1,385-1,388 points and the resistance level is 1,400-1,410 points.

5 securities with the highest trading value

• KBANK's turnover reached 2,481.34 million baht, closing at 120.50 baht, down 3.00 baht.
• ADVANC had a trading value of 1,398.09 million baht, closing at 214.00 baht, down 4.00 baht.
• PTT's turnover reached 1,396.75 million baht, closing at 34.75 baht, down 0.25 baht.
• PTTEP's purchase value was 1,354.26 million baht, closing at 154.50 baht, an increase of 1.00 baht.
• CPALL's turnover reached 1,187.66 million baht, closing at 54.75 baht, down 0.50 baht.

Read more