Thai stocks closed down 5.10 points, volatile after Setha qualifications issue. Watch timeline for new PM selection: InfoQuest

The SET index closed today at 1,292.69 points, down 5.10 points (-0.39%), with a turnover of 53,414.91 million baht. Analysts said the Thai stock market rose this morning on speculation that Mr. Sittha Thavisin would survive the prime ministerial impeachment case. But in the afternoon, the index fell more than 15 points once the Constitutional Court results came in, with a majority voting for Mr. Sittha to end his term as prime minister. The entire cabinet resigned from their posts. After that, speculation on individual stocks returned, pushing the index up slightly again. Tomorrow's outlook depends on the timeline for choosing the prime minister. The newcomers, if they do it quickly, believe the impact will not be significant. The price is looking for a chance to rebound to the 1,300 level, with the support line at the original bottom at 1,270 points.

• The stock exchange closed today at 1,292.69 points, down 5.10 points (-0.39%), with a trading value of 53,352.88 million baht.

• Stock trading today is volatile. In the morning it was positive. But in the afternoon things turned upside after the decision in the prime minister's qualifications case. At the end of the market the period was down. The index recorded a low of 1280.99 points and a high of 1306.88 points.

• As for securities, today's changes increased by 233 papers, decreased by 262 papers, and remained unchanged by 162 papers.

Mr. Sarawut Techochwalit, Senior Director of Securities Analysis Department at RHB Securities (Thailand), said that the Thai stock market is showing signs of volatility. The entry period has been buoyed by speculation that Mr. Sita Thaweesin has not been ousted. This will allow the government to move forward with the Vayupak Mutual Fund 1, adjust the terms of the ThaiESG Fund, and stimulate the economy through the digital wallet project.

But in the afternoon, after the Constitutional Court voted 5:4 to end Mr. Seetha’s term as prime minister, the entire cabinet was removed from office, sending the index 15 points lower in panic selling.

Meanwhile, the markets are expecting the process of choosing the new prime minister to be done quickly. There were speculations in STEC and STPI stocks which rebounded strongly. From the news that Mr. Anutin Charnvirakul, leader of the Bhumjaithai Party, will be one of the candidates for the new prime minister. I think the stock market will respond well. Because they are senior and experienced. As for the Pheu Thai Party, it remains to be seen whether Ms. Praithongthan Shinawatra or Mr. Chaikaesem will be nominated. Netisiri or not? If the coalition government continues to hold their hands tightly or will the Democrat Party be brought in to make the government more vocal?

The Thai stock market outlook for tomorrow depends on the news regarding the timetable for choosing a new prime minister, with support at 1270 points, the original low point on August 5 (Black Monday), but if the cabinet is appointed quickly it will not change. Digital wallets can still be made. The market has a chance to rebound to 1300 points.

The securities with the highest trading value are 5 securities.

• CPALL The trading value was 6,630.93 million baht, and it closed at 55.25 baht, down 2.75 baht.

• push to talk The trading value was 2,444.66 million baht, and it closed at 33.75 baht, down 0.50 baht.

• AOT Trading value reached 1,650.77 million baht, closing at 55.75 baht, unchanged.

• BDMS Trading value was 1,601.62 million baht, closing at 27.00 baht, down 0.75 baht.

• Gulf Trading value was 1,292.27 million baht, and closed at 47.00 baht, down 0.50 baht.

By InfoQuest News Agency (August 14, 2024)

Tags: group, group index, stock market, thai stock market, sarawut techochwalit, thai stocks