Analysts revealed that Thai stocks fell to close at -2.99 points. Pressure from external factors affecting the index We are particularly concerned about the Federal Reserve cutting interest rates more slowly. Including the selling pressure on EA and NEX shares, there was also a drop in the target price. Although there is strong purchasing power in food and electronic components groups and numbers of Thai exports are coming please help support me. Evaluate tomorrow's investment framework as support at 1,355-1,360 points and resistance at 1,375 points. Looking at tomorrow's trend, we expect the market to be lower, awaiting the PMI numbers and the number of weekly unemployment claims in the US.
The Thai stock market closed its trading on May 23, 2024, down -2.99 points, or -0.22%, to close at 1,367.84 points, with a trading value of 46,236.17 million baht, while the total stock trading today amounted to the index fluctuating up and down. Alternating between positive and negative territory, it rose during the day to a maximum of 1374.04 points, and in the opposite direction it fell to a minimum of 1364.31 points.
While the number of securities that changed today increased by 190 securities, remained unchanged for 186 securities, and decreased by 285 securities.
In terms of trading volume classified by investor group, it was found that net foreign investors sold more than -1,014.36 million baht, net securities company accounts sold more than -71.46 million baht, domestic investors net bought more than +827.73 million baht, and institutional investors made net purchases. Net over +258.09 million baht.
The securities with the highest trading value are 5 securities
1.NEX trading value reached 1,934.01 million baht, closing at 3.16 baht, down 0.90 baht.
2.CPALL's trading value was 1,727.40 million baht, closing at 58.75 baht, down 0.50 baht.
3.CPF trading value reached 1,636.53 million baht, closing at 23.20 baht, an increase of 0.70 baht.
4. Delta's trading value reached 1,594.16 million baht, closing at 77.00 baht, an increase of 2.50 baht.
5.EA trading value reached 1,369.36 million baht, closing at 23.70 baht, down 1.20 baht.
While the SET100 index closed at 1,859.98 points, down -4.04 points, or -0.22%, and the SET50 index closed at 843.52 points, down -1.25 points, or -0.15%. The May market index closed at 381.37 points, down -0.12 points or -0. 0.03%.
The overall Thai stock market is still not good today, said Mr. Sarawot Tikochawalit, Senior Director of Securities Analysis Department at RHB Securities (Thailand). External factors: Investors remain concerned that the Federal Reserve (US central bank) will cut interest rates for the first time later than expected. It is also facing selling pressure in EA and NEX shares after analysts cut their price targets when NEX announced its first-quarter 2024 budget, with EV bus deliveries falling far short of the target.
Even today, there is still purchasing power among food producers such as CPF, TFG and BTG as a result of improved meat prices. The electronic components group received good results from NVDIA operating results, which were better than expected. Including Thai export numbers in April which returned to a positive 6.8% but had little impact on the index. Due to pressure from EA and NEX sales
“Tomorrow's trend from the indicator technology that breaks the support level at 1,370 points, the trend will be absorbed. The market is still waiting to follow the Purchasing Managers' Index (PMI) report on the primary manufacturing sector in May and the number of weekly unemployment claims in the US. If the unemployment number rises, it may This supports expectations that the Fed will cut interest rates faster and in addition, they should follow foreign investors' money after they sold off a lot last Tuesday given the support range at 1355-1360 points and resistance at 1375 points. Mr. Sarawat concluded.