Thai Stock Market Update: SET Rises Strongly Amid Positive Factors

The SET closed this morning at 1,538.92 points, an increase of 16.18 points (+1.06%), trading value at 28,249 million baht. Revealed that the Thai stock market in the morning rose strongly in line with regional markets. Getting positive factors, negotiating the US debt ceiling issue is perfect. While receiving negative news from domestic politics and concern about campaign policies, it has gone far enough. In addition, now starting to see positive signs of the government form. The afternoon trend is expected to continue to swing positively, providing support at 1,530 points and resistance at 1,543 points.

SET Closed this morning at 1,538.92 points, an increase of 16.18 points (+1.06%), trading value of 28,249 million baht.

morning trading index rose with a minimum of 1,531.00 points and a maximum of 1,531.15 points

Mr. Watan Jitsomnuek, Director of Strategic Analysis Department, Pai Securities, said that the Thai stock market in the morning rebounded strongly in line with Asian stock markets. Responding to the main positive factor is President Joe Biden and Mr. Kevin McCarthy, Speaker of the US House of Representatives. It was agreed that the two sides would reach an agreement to raise the debt ceiling by Sunday (May 21) to help the United States escape a debt default and recession.

domestic factors The market has already acknowledged the concern about political issues. especially the establishment of the government and the effects of the Kao Klai Party’s campaign policies. Which previously pressured the SET to drop quite as much, almost 3% from 1,570 points, but now, recently, positive developments have been seen in forming a government team. Although there is still a lack of votes to support the selection of the prime minister.

In addition, it is believed that investors should relieve their concerns about the party’s policies going a little further. both focusing on reducing people’s cost of living and not favoring capitalist monopoly Because before the government can be established successfully And the legislation is likely to take a long time. As a result, the Thai stock market has recovered.

Afternoon trend expects the market to continue moving in positive territory, providing support at 1,530 points and resistance at 1,543 points.

The securities with the highest trading value of the 5 securities

DELAT, trading value 2,336.44 million baht, closed at 88.25 baht, an increase of 7.75 baht

CPALL trading value 1,557.53 million baht, closed at 63.00 baht, price unchanged.

PTTEP trading value 1,115.87 million baht, closed at 150.00 baht, an increase of 5.50 baht.

AOT trading value 943.96 million baht, closed at 72.00 baht, price unchanged.

BDMS, trading value 860.52 million baht, closed at 28.75 baht, down 0.50 baht

By InfoQuest News Agency (18 May ’23)

Tags: SET, stock market, Thai stock market, Thai stocks