Thai stock index hits lowest point in 4 years

Bangkok, The Thai stock market index has hit its lowest point in 4 years, following Asian stock markets. Because investors are worried about the direction of Fed interest rates After US employment figures were higher than expected and worry about politics in the country The movement of the Thai stock market index (SET Index) today (June 10) in the morning fluctuated in negative territory all the way. and fell heavily to test the lowest level (LOW) at 1,313.26 points, or a decrease of 19.48 points, which is considered to have dropped to the lowest point in more than 4 years, from when during the Covid crisis it was at its lowest point in the area. 1,024.46 points on March 23, 2020 Mr. Wichit Arayapisit, Investment Strategist Liberator Securities said that the stock market has fallen to its lowest level in more than 4 years. Today's direction is in line with Asian stock markets, which have all fallen. Our home market received pressure from both outside the country, namely the US labor sector numbers came out much higher than expected. And the average hourly income was higher than expected as well. This has caused investors to worry about the direction of interest rates, most recently giving less than 50% weight to the Fed to cut interest rates in September, supporting bond yields to increase, pressuring investment in risky assets. As for political factors in the country, this week there was quite a lot of movement. There are also concerns about trading with margin accounts. After one broker announced the cancellation of margin release. Of course, there must be an outstanding margin. and must close the status It is pressure on large, medium and small stocks, adding to the already weak market situation. Mr. Apichart Phubanjerdkul Senior Director Strategic Analysis Division TISCO Securities Company Limited said that the SET index fell heavily. It is because there is concern about political problems. There is uncertainty in which direction it will go. In particular, the Constitutional Court will decide on the quali fications of Prime Minister Settha Thavisin, causing investors to sell to reduce risk. After the technical signals were also negative, with the SET index dropping to a new low, missing the level of 1,320 points. Krungsri Patanasin Securities stated in its analysis that at this week's FOMC meeting, the Fed chairman is likely to make dovish comments, meaning there will be no mention of the possibility of going back to raising the policy interest rate. But there is a chance that the Dot Plot report will appear more Hawkish. From the report at the end of Q1/67, it reflects that the Fed has an opportunity to cut the policy interest rate 3 times, to the level of 0.75% this year, down to an opportunity to cut the policy interest rate 2 times, to the level of 0.75% this year. 0.5 %. Source: Thai News Agency