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Thai Stock Market Rises Following Fed’s Signal of Interest Rate Cut – Expert Analysis and Top Traded Securities

Editor’s Picks, Stock News17:29 2024-03-08

SET closed today at 1,386.42 points, an increase of 14.26 points (+1.04%), trading value 40,077.08 million baht.

Stock trading today The index rose and moved in positive territory throughout the day. The highest point was 1,386.58 points and the lowest point was 1,373.05 points.

As for securities, changes today increased by 347 securities, decreased by 142 securities, and remained unchanged by 170 securities.

Mr. Weerawat Wirojphoka, Director of Securities Analysis, Finansia Syrus Securities Said that the Thai stock market today continues to rise. Following the same direction as other stock markets in Asia. Received support from the statement of the Chairman of the Federal Reserve (Fed) who emphasized on reducing interest rates to the House of Representatives. and signals confidence that inflation will gradually fall to the 2% target, causing the market to expect and be more confident that we will see the first interest rate cut from the Fed at its June meeting.

This factor is a factor that continues to encourage money to flow back into risky assets. This is a factor that the Thai stock market also benefits from. Especially the return of foreign investors to buy things. This is a support for the group of large stocks that increased today. Especially the power plant group electronic group and bank groups, etc.

Next week’s trend is expected to fluctuate sideways within the range. After hearing the news about the Fed’s statement that helped support the stock market at the end of this week. And tonight, follow the report on non-agricultural employment numbers in February, which the market expects to increase by 200,000 jobs, which is slowing down from 350,000 jobs last month, with resistance at 1,400-1,405 points and support at 1,375-1,380 points.

As for the securities with the highest trading value, 5 securities

AOT trading value 1,894.37 million baht, closed at 66.50 baht, an increase of 1.50 baht.

PTT trading value 1,546.80 million baht, closed at 34.00 baht, decreased 0.50 baht.

DELTA (XD) trading value 1,545.01 million baht, closed at 70.25 baht, an increase of 2.75 baht.

CPALL trading value 1,396.60 million baht, closed at 57.75 baht, decreased 0.50 baht.

PTTEP trading value 1,041.91 million baht, closed at 152.50 baht, an increase of 1.00 baht.

By InfoQuest News Agency (08 Mar. ’24)

Tags: Weerawat Wirotphoka, Thai stocks

2024-03-08 10:29:32
#Thai #stocks #close #points #receiving #positive #foreign #sentiment #strong #buying #large #stocks #supports #InfoQuest

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