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Thai Stock Market Update: SET Closes Lower Due to MSCI Rebalance and Earnings Concerns

SET closed today at 1,370.67 points, down 11.38 points (-0.82%), trading value 73,542.55 million baht.

Today’s stock trading, the index has dropped, moving in negative territory throughout the day. The lowest point was 1,366.93 points and the highest point was 1,381.37 points.

As for securities changes today, 142 securities increased, 382 securities decreased, and 137 securities were unchanged.

Mr. Therdsak Thaweethiratham, Deputy Managing Director, Research Division, Asia Plus Securities, said that the Thai stock market today has decreased from the pressure of MSCI Rebalance, which has adjusted the stocks entering and exiting. This has affected large stocks to fluctuate. And it was a pressure on large stocks that were removed from the index calculation, especially 3 large stocks, namely BJC, OSP, BANPU, which were removed from MSCI Global Standard.

Meanwhile, listed companies are gradually reporting almost all of their operating results. This causes sales pressure to sell on facts. Moreover, the operating results of most listed companies are lower than expected. This has caused concern that profit estimates may be revised down. This is another factor that puts pressure on the index. Other stock markets in Asia moved alternately positive and negative.

Tomorrow’s trend is expected to swing sideways. Tonight, follow the report on PCE inflation figures for January in the United States to see what the results will be. If it comes out to drop more than the market expects, it may have a positive effect on overall stock market sentiment. You must also follow the direction of the response of the US stock market tonight. The resistance level is 1,380 points and the support level is 1,360 points.

As for the securities with the highest trading value, 5 securities

BANPU trading value 3,847.45 million baht, closed at 5.60 baht, down 0.10 baht.

BJC trading value 3,541.58 million baht, closed at 24.20 baht, decreased 1.55 baht.

BDMS trading value 2,878.60 million baht, closed at 28.50 baht, decreased 0.50 baht.

OSP trading value 2,363.18 million baht, closed at 20.30 baht, decreased 0.30 baht.

PTT (XD) trading value 2,258.04 million baht, closed at 34.25 baht, decreased 1.25 baht.

2024-02-29 10:24:38
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