Thai stocks fell nearly 10 points in the afternoon, worried the Bank of Thailand was about to cut prices. GDP-bond issue
"Thai stocks" in the afternoon fell more than 10 points, worried that the Bank of Thailand is about to adjust down the 66 estimate from the original estimate of 2.4% growth and the bond issue, including the Constitutional Court ruling that Pita-Move Forward are involved in overthrowing the government, the issue of campaigning to amend Section 112
On January 31, 2567, the Thai stock market fell nearly 10 points in the afternoon session, amid concerns over an increase in private sector bond defaults and the Bank of Thailand's (BOT) admission that it might revise down its 66 growth forecast from the previously projected 2.4%.
At 14.00:112 p.m. today, the Constitutional Court ruled that Mr. Pita Limjaroenrat, leader of the Move Forward Party (at that time) and the Move Forward Party proposed to amend Section 112, along with campaigning and using it to campaign for the MP election, which constituted an overthrow of the democratic regime with the King as head of state. The court also ordered the cessation of all actions related to amending Section XNUMX, and warned all parties not to violate the court's authority.
At 15.15:1,363.53 p.m., the SET index was at 9.61 points, down 0.70 points (-31%), while the Stock Exchange of Thailand (SET) index closed this morning, January 1,366.51, at 6.63 points, down 0.48 points (-22,641%), with a trading value of XNUMX million baht.
Ms. Chutikarn Santimethavirul, Senior Securities Analyst at Phillip Securities (Thailand), said that the Thai stock market declined in the morning session, in line with other Asian markets, in response to negative sentiment stemming from concerns about the Chinese economy after the manufacturing index contracted for the fourth consecutive month, reflecting a slowdown.
Including the operating results of major US technology companies. In particular, Alphabet and Microsoft contracted, causing selling on facts and having a negative impact on markets in the region. Including stocks in our home electronics group.
Afternoon trend: Phillip Securities expects fluctuations in negative territory. Investors are also giving weight to the Constitutional Court's decision in the Kao Klai Party's campaign to revoke Section 112, whether it amounts to the overthrow of the government or not. If the court points out that it could lead to the dissolution of the party. or has ceased to be an MP, so he is worried whether there will be a political movement or not.
At the same time, we are waiting to see the results of the Federal Reserve (Fed) meeting, especially looking for signs of when the Fed will cut interest rates. Makes investors more cautious
Gives support 1,360 points and resistance 1,370 points.
Mr. Nattapol Khamthakrue, Director of Securities Analysis at Yuanta Securities (Thailand), said that the Thai stock market this morning was trading sideways, in line with other Asian stock markets which were also stable, as there were no new supporting factors.
In our country, we are still waiting to follow the political factors. On January 31, the Constitutional Court scheduled to hear the ruling on the Kaew Klai Party case proposing to repeal Section 112. Will it be considered an overthrow of the government or not? Because it may lead to the issue of party dissolution. and foreign factors There will be a meeting of the US Federal Reserve (Fed) where results will be known on the same day.
The afternoon trend is expected for the market. It should still fluctuate sideways, similar to the morning session, within the support range of 1,372 points and the resistance level of 1,382 points.
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