Thai stock market situation: closed down 8.55 points in line with foreign countries. Strong dollar puts pressure on digital wallets for a long time

Thai stock market situation: closed down 8.55 points in line with foreign countries.  Strong dollar puts pressure on digital wallets for a long time

2024-03-25 10:20:23

InfoQuest News Agency (25 Mar. ’24)

SET closed today at 1,372.49 points, down 8.55 points (-0.62%), trading value 41,151.59 million baht. Analysts Indicates that the Thai stock market today fell in line with foreign countries. On Friday, the Dow Jones received profit-taking pressure following learning that the Fed had already cut interest rates. Meanwhile, the strengthening dollar makes Asian currencies less attractive. As a result, Asian stock markets are negative. while making a statement “Digital Wallet” has no new issues and is still delayed until the 4th quarter of 2024. Tomorrow’s trend is expected that the index will swing sideways based on the downside, waiting to follow the US GDP-PCE, giving the first support frame at 1,368 points, if it drops, the next one will be at 1,368 points. 1,355 points, but if it doesn’t fall out, there is a chance of going up to the resistance levels of 1,380 and 1,390 points.

SET closed today at 1,372.49 points, down 8.55 points (-0.62%), trading value 41,151.59 million baht.

Stock trading today Index moves in negative territory The index made its lowest point at 1,368.21 points and made its highest point at 1,385.61 points.

As for securities, today’s change increased by 148 securities, decreased by 343 securities, and remained unchanged by 167 securities.

Mr. Narongdet Chanthapaisarn, Director of Securities Analysis at AIRA Securities, said that the Thai stock market today fell in line with international markets. On Friday, the Dow Jones dropped from profit-taking following learning of the issue of the Federal Reserve (Fed) sending signals to cut interest rates 3 times this year. Meanwhile, the dollar continues to strengthen. This makes Asian currencies unattractive and pressures capital outflows. As a result, Asian stock markets today moved in negative territory.

While announcing the digital wallet project in the followingnoon There is no new issue and it is seen that there is a delay than before. From the beginning it was expected that the policy would begin to be used in the 1st quarter – 2nd quarter of 2024, but it was postponed to the 4th quarter of 2024.

Today is the first day that the Stock Exchange has extended followingnoon trading hours 30 minutes earlier. It is considered that this will not have a significant effect on the movement of the index.

The trend of the Thai stock market tomorrow is expected that the index will swing sideways, going down. This week, investors are waiting to follow important numbers from the United States, such as gross domestic product (GDP) numbers in 4Q23 and inflation numbers from the Personal Consumption Expenditures (PCE) price index report in February.

Along with giving the first support range of 1,368 points, if it breaks, the next support level is at 1,355 points, but if it doesn’t break, there is a chance that the index will adjust up to the resistance level of 1,380-1,390 points.

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

PTT trading value 2,350.74 million baht, closed at 33.75 baht, decreased 0.25 baht.

ADVANC trading value 1,559.13 million baht, closed at 208.00 baht, decreased 1.00 baht.

KTB trading value 1,443.25 million baht, closed at 16.80 baht, price unchanged.

BH trading value 1,255.39 million baht, closed at 222.00 baht, decreased 5.00 baht.

CPALL trading value 1,244.99 million baht, closed at 54.50 baht, an increase of 0.25 baht.

By Warinthon Sirinok/Ratchada Kongkhunthian

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