Bangkok, March 22 - Thai stocks recovered more than 10 points this morning, following the global market's confidence in solving the US-European banking crisis. resulting in lower gold prices baht depreciation President of the Association of Analysts pointed out Segment information for good investments.
The Thai stock market opened this morning (March 22) at 1,585.62 points, an increase of 8.44 points or 0.54%, in some periods it rose more than 10 points, and at 10.45 a.m. it was at 1,581.55 points, an increase of 4.37 points. get up according to regional market improved along the US-European side After the market eased concerns about banking sector problems From the solution received positive feedback. And wait for the results of the US Federal Reserve meeting today, where the market expects both interest rates to be maintained and interest rates raised by 0.25%.
The price of gold in the country this morning fell by 200 baht per baht, according to foreign prices, where the gold price dropped. The Gold Traders Association reported that the price of gold bars The market opened at 09.28 a.m., buying in at 31,650.00 per baht per gold, selling out at 31,750.00 per baht in gold, the price of gold ornaments. Buying in 31,078.00 baht per gold baht, selling out 32,250.00 baht per gold baht
Yesterday (March 21), the COMEX (Commodity Exchange) gold contract was delivered in April. fell $ 41.70, or 2.10%, to settle at $ 1,941.10 / ounce.
Because investors sell and take profits After gold prices soared to their highest level in 11 months on Monday. And the market eased concerns about the crisis in the banking sector. As a result, investors reduce their holdings of gold as a safe haven asset.
Ms. Kanchana Chokpaisarnsilp research executive Kasikorn Research Center Said the baht adjusted to about 34.50-34.52 baht per dollar. In the morning today (9.50 am), the value continued to depreciate compared to yesterday's close at 34.32 baht per dollar. The baht and most Asian currencies weakened ahead of tonight's Fed meeting. which the majority still expects The Fed is expected to raise interest rates by 25 bps. However, the focus of this meeting will be on the dot plot and outlook on banking problems. Including the US economic outlook. in the future
Mr. Paiboon Nalinthrangkun, President of the Investment Analysts Association, said in the Investment Minute program during the "Distinguishing" session, the news is confusing because of the news that happened in foreign banks. But investors will bring news to APPLY to the domestic market. have to separate a lot of economic cycles in Thailand and abroad are different Overseas commercial banks in the US, Europe, some were closed, some were taken over. There are fundamental factors that are different from Thai banks. What happened abroad It's not going to happen in Thailand. Investors have to distinguish what is going on at home and abroad because of the fact that information is not correlated. close together like in the past
“Actually, commercial banks The US is fragile because it has a lot of branches. The US has over 4,000 banks, but in Thailand there are only 10. The US Federal Reserve and Thailand's oversight is different. The US authorities are therefore not as strict as Thai banks. The government attaches importance to only 8 large banks, but Thailand's supervision is the same everywhere. Bank of Thailand (BOT) takes strict care Continuous operation is tested. It was clearly reported that Thai banks were stronger and more stable than the US. Of course, what happened in the US would not happen in Thailand,” Paiboon said. Said.-Thai News Agency
Source: Thai News Agency