Thai stocks today are hoping for a resistance level of 1,545 points, hoping the Fed will slow down raising interest rates. - Predict stocks to be added to the MSCI index

Mr. Therdsak Thaweethiratham, Deputy Managing Director, Research Division, Asia Plus Securities Have an outlook on the Thai stock market today (11 Aug.), expecting the index to fluctuate in line with the direction of foreign stock markets, including Asian stock markets, which rose this morning. After last night, US inflation numbers came out slightly lower than expected. This makes the market expect that the consideration of raising interest rates by the Federal Reserve (Fed) will begin to show signs of slowing down interest rate increases.

However, it remains to be followed by political factors in the country to see how the voices will be gathered to form a government and vote for the Prime Minister. In addition, there may be support for stocks that have been announced for calculation in the MSCI index, with resistance at 1,545 points and support at 1,525 points.

Finansia Cyrus Securities The SET Index is expected to fluctuate sideways to sideways up in the range of 1,525-1,540 points. The Domestic Play group is expected to improve. As for the upstream and midstream energy groups, it is expected that the heat will decrease as oil prices ease.

Meanwhile, power plants are expected to recover somewhat from gas prices. US inflation numbers for July came out slightly lower than expected, Core CPI +0.2% mm, +4.7% yy, but the market responded with volatility and in the end, Bond Yield still rose strongly, which also reflects concerns about the direction of interest rates being high for a long time. Limit the Upside of Risky Assets

Assessing the main weight of the Thai stock market is the development of the government formation of the Pheu Thai Party. Meanwhile, Finansia Cyrus Securities expects there will be continued improved momentum in winning votes. and is expected to be completed within the next week. It is estimated that the stock market will respond positively and support the index to recover from increased investor confidence. and hope for the flow of foreign capital to return to flowing in again.

In terms of overall 2Q23 operating results of listed companies (Ltd.), even though it was an unremarkable quarter, But I believe that the market will overlook the 2H23-2024 picture that is likely to recover. Combined with the possibility of a new government within 3Q23, it is expected that the index will have passed its lowest point in June and is likely to recover during the rest of the year.