Thai stocks today fluctuate within the range of 1,190-1,220 points due to concerns about the slowdown of the US economy, anticipating the MPC meeting this afternoon.
Thai stocks today, 26 Feb. Analysts expect them to fluctuate within the range of 1,190-1,220 points. Yesterday, the US stock market index was consolidating due to concerns about the weakening US economy from the report of the lowest consumer confidence index in 8 months. This issue should be a negative sentiment for the regional market, while domestic factors await the results of the MPC meeting.
February 26, 2568 Innovation Exchange Securities expect SET It quickly plunged to near 1,200 points amid a market lacking positive factors and concerns about a trade war.
This has led market investors to hope today for the MPC meeting. Although the interest rate will remain unchanged, if there is a signal for a possible interest rate cut in the future, it is expected to support the recovery, with resistance at 1,215-1,220 points and support at 1,190-1,200 points.
In the short term, we see that SET has a chance to recover but the upside is limited with resistance at 1,300 points. It is estimated that macro factors will be a factor supporting the Thai stock market as the PCE index tends to slow down to 2.5%, which will not pressure the Fed to change its stance on monetary policy. China's manufacturing and service sector PMI tends to improve slowly, while the BOT still maintains its view of maintaining interest rates at 2.25%, which the market has already recognized and reflected in the price to some extent.
In addition, the performance trend of 1Q68 should indicate that the profit of the Thai stock market has passed its worst point in 2H67, leading us to believe that foreign capital flows are likely to improve, including the measures of the Stock Exchange of Thailand to build confidence, which should help ease market concerns to some extent. Therefore, the investment strategy is recommended. “Selective Buy”
Mr. Chanchai Panthathanakit, Research Director, Maybank Securities (Thailand) Said that the trend of the Thai stock market this morning is expected to see the index fluctuate.
The US stock market index is consolidating due to concerns about weaker US economic figures. Yesterday, the US consumer confidence index was reported at its lowest in 8 months and lower than the market expected. This issue should be a negative sentiment for the regional stock market.
As for domestic factors, investors are waiting for clarity on the results of the Monetary Policy Committee (MPC) meeting this afternoon. If there is a resolution to reduce interest rates, it will create some positive sentiment for the market.
However, according to the Bloomberg Consensus, it is still expected that interest rates will remain unchanged, with a support level of 1,190 points and a resistance level of 1,220 points.
Pie Securities Estimate Thai stocks today, moving in the range of 1,200 - 1,220 points, should recover somewhat after a sharp adjustment, coupled with the results being reported better than analysts expected, which will be a supporting factor.
Strategically, focus on stocks with good profits, such as CPALL and AAV. Other stocks can still be gradually accumulated, but focus on large stocks, such as shopping malls (CPN) and tourism (MINT and CENTEL). In addition, wait to follow the MPC meeting. Most opinions expect the interest rate to remain at the same level.
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