Thai stocks today fluctuated in the range of 1,610 - 1,635 points after concerns about the economic slowdown - no supporting factors.

Mr. Chanchai Phantathanakit, Assistant Director of Research, Asia Plus Securities, said that the Thai stock market today is expected to fluctuate downwards. Following the direction of the Asian stock market and the US and European stock markets decreased. Although US retail sales figures are quite good, But there are still concerns about the economic slowdown going forward.

At the same time, there is still concern about the spread of COVID-19. In China again which will affect the overall world economy and had an effect on the price of oil which continued to decrease This may be a factor that puts pressure on energy stocks to put pressure on the index today. As for the issue of the missile that fell in Poland There is some relief from anxiety. After NATO acknowledged that Ukraine's defense system with resistance 1,630-1,635 points, support 1,610-1,615 points

Finansia Syrus Securities expects the SET Index to fluctuate sideways in the range of 1,610-1,630 points, with the market lacking new Catalyst to support it after the 3Q22 earnings announcement period is complete. In the short term, the index rested slightly after responding positively to US inflation starting to slow down Including the expectation that the FED will delay raising interest rates and expect it to be near the peak level of 5% in 1Q23.

Recently, the Dollar Index and the US 2-year Bond Yield were stable after adjusting sharply last week, but the 10-year Bond Yield continued to decline, causing the Inverted Yield picture to widen to -67 bps, compared to the end of 3Q22 at -44 bps, reflecting concerns about the outlook. The economy and the risk of recession are increasing.

However, it is seen that the SET Index will be more limited than foreign stock markets, with still being driven by the accelerating economy, especially the tourism picture. This makes the momentum of listed companies' profits in 4Q22-2023 expected to recover strongly. Including the reversal of the current account surplus in the long run, it also supports the baht to remain in an appreciating direction. Even in the short term, capital flows will turn to flow out slightly. But the overall picture still allows for inflows in the medium-long term.