Thai stocks closed down 8.54 points this morning, testing the 1,300-point level. Bond yields rebounded, the dollar strengthened, and selling pressure from the petrochemical sector put pressure on the market.

Thai stocks closed at 1,300.32 points on the morning of November 4th, down 8.54 points, with a trading value of 19,373 billion baht. The market experienced a slight adjustment in volume due to a lack of new factors. Investors awaited listed company earnings, while external factors pressured the market, including rising US bond yields and a stronger dollar. Selling pressure on petrochemical stocks also contributed to the decline.

The Stock Exchange of Thailand (SET) index closed this morning, November 4th, at 1,300.32 points, down 8.54 points (-0.65%), with a trading value of approximately 19,373 billion baht.

This morning, there was trading on the big board (BIG LOT) of 3 securities, 3 items, with TISCO having the highest value at 13.08 million baht, with an average price of 109 baht per share.

Mr. Wichit Arayapisit, Investment Strategist Liberator Securities He said the Thai stock market adjusted down to test the 1,300-point level this morning with light trading volume as investors awaited new catalysts following the release of banking sector earnings. He also noted that investors are awaiting the real sector and overall market profits.

Meanwhile, short-term foreign factors were pressured by US interest rate signals in December, resulting in the 10-year US Treasury bond yield continuing to rise above 4%. The strengthening dollar pressured risk assets to adjust their base.

This morning, the Thai stock market was pressured by continued declines in petrochemical stocks, as spreads remained subdued. Product selling prices continued to decline, while naphtha costs rose in line with oil prices, putting pressure on petrochemical spreads.

This afternoon, the market is expected to continue moving in negative territory, with support at 1,300 points. If it falls below this level, panic selling may occur, with the next support at 1,280 points and resistance at 1,320 points.

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