Thai stocks close 13.03 points higher, hopes bond yields will fall – Thai economy recovers – China keeps stock market stable: InfoQuest

The stock market closed today at 1,396.96 points, an increase of 13.03 points (+0.94%), with a trading value of 50,709.59 million baht.

Today's stock trading, the index rose to test 1,400 points, but it is still unable to hold. The lowest point was 1385.92 points and the highest point was 1400.63 points.

As for changes in securities today, 343 securities rose, 143 securities decreased, and 165 securities remained unchanged.

Mr. Kornphat Warachit, Director of Research and Investment Services at Krungsri Patanasin Securities, said that the Thai stock market rose today in line with the Asian stock market. Especially China and Hong Kong, in response to three positive psychological issues, which is that the global market began to reduce its expectations of the Federal Reserve’s interest rate expectations, from the original expectation of reducing it 6 times, and most recently to 4.5 times, in line with the Federal Reserve’s expectations of the interest rate. MUFG forecasts that the Fed will cut interest rates by about 4 times, reflecting that US government bond yields (bond yields) have a chance to adjust after the sharp rise.

While still supported by the momentum of the Thai economy which is starting to look better. Especially due to the continued recovery of tourism. This may be a supporting factor to revise estimates of the Thai economic growth rate (GDP) this year.

Including China attaches great importance to maintaining stock market stability. Recently, Mr. Xi Jinping, President of the People's Republic of China, met with the China Securities and Exchange Commission to press for more concrete policies to support the stock market. Both control the short selling of stocks, allowing large funds to stop short lending stocks and adjust the margin call level to be more flexible in order to reduce forced selling.

Tomorrow's market trends there is an opportunity to continue to improve. The resistance level is at 1,410 points and the support level is 1,390 – 1,380 points. It is recommended to follow the Monetary Policy Committee meeting to discuss any signs of reducing the interest rate.

The securities with the highest trading value are 5 securities

AOT's trading value reached 3,446.51 million baht, closing at 64.50 baht, an increase of 0.75 baht.

PTTEP's trading value reached 1,426.53 million baht, closing at 153.00 baht, an increase of 1.00 baht.

BCH's trading value reached 1,346.80 million baht, closing at 22.20 baht, down 0.70 baht.

BDMS trading value reached 1,250.95 million baht, closing at 28.75 baht, an increase of 0.25 baht.

CPALL's trading value reached 1,221.69 million baht, closing at 55.50 baht, an increase of 1.00 baht.

Written by InfoQuest News Agency (06 February 2024)

Tags: group, thai stock market, thai stocks