The bourse closed this morning at 1,339.06 points, up 1.23 points (+0.09%), with a turnover of around 19,884 million baht, revealing that the Thai stock market moved in a narrow range in the morning. Buying, transfer and profit-taking pressures were received after stock prices rose significantly, such as banks, as political matters began to settle after the prime minister was appointed. New people are forming the cabinet team as the market awaits the Fed Chairman’s speech to indicate whether interest rates will go as expected or not. The trend is expected to weaken in the afternoon with the first support level at 1,333 points, the next at 1,325 points, and resistance levels at 1,340 and 1,345 points.
The stock exchange closed the morning session at 1,339.06 points, up 1.23 points (+0.09%), with a trading value of nearly 19,884 million baht.
Morning trading The index is moving in the positive and negative zone within a narrow range. The highest level was 1343.35 points and the lowest level was 1334.79 points.
Mr. Narongdet Chanthapaisarn, Director of Securities Analysis at AIRA Securities, said that the movement trend of the Thai stock market this morning is within a limited range. There is alternating buying pressure and selling pressure. Including the selection of playing with individual stocks and the banking group is facing strong selling pressure to make a profit after the price has risen a lot. Moreover, the market has been rising for several days after the appointment of the new Prime Minister. The formation of the new government team has moved to a certain level. This leads to market contraction and depression.
As investors around the world are looking forward to the Federal Reserve's (Fed) annual meeting in Jackson Hole, where Fed Chairman Jerome Powell is scheduled to speak on August 23, although the market is aware of the Fed's chance of cutting interest rates next September, we have to wait and see whether it will be as expected or not.
The trend in the afternoon is likely to move similarly to the morning. In the morning, the market tested the resistance at 1340 points but could not hold and retreated. It is a short-term correction, with the first support level at 1333 points, the second at 1325 points, and the resistance levels at 1340 and 1345 points.
The securities with the highest trading value are 5 securities.
EA's trading value was 1,176.34 million baht, and it closed at 5.85 baht, down 0.10 baht.
PTT's trading value reached 1,169.98 million baht, closing at 34.50 baht, up 0.25 baht.
KBANK trading value 889.34 million baht, closing at 140.00 baht, price unchanged.
BDMS trading value was 707.23 million baht, closing at 28.00 baht, price unchanged.
CPALL's trading value was 702.69 million baht, and it closed at 58.50 baht, down 0.75 baht.
By InfoQuest News Agency (August 22, 2024)
Tags: group, stock market, thai stock market, thai stocks
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