Thai stocks rebound, plus more than 30 points.

The Thai stock market this morning closed, rebounding in line with foreign markets after falling more than 75 points two days ago.

At 10:51 a.m., the SET index was at 1,557.04 points, an increase of 33.15 points or 2.18%). Mr. Prakit Siriwatanaket, Managing Director Merchant Partners Asset Management said that in the short term, the stock market recovery in foreign countries It is expected that the US Federal Reserve (Fed) can handle the problem of 2 US banks that have gone bankrupt. together with US inflation February slowed down as expected at 6%, resulting in momentum for Thai stocks in the short term, recovering as an opportunity for those waiting to sell. As for those waiting to accumulate stocks, the Thai stock market P/E yesterday was 17 times, considered very low, a period worth accumulating, especially those in PANIC, but good fundamentals. The expansion of the domestic economy especially the commercial banking group

Dr. Soraphol Tulyasathien, Deputy Manager, Head of Corporate Strategic Planning Division and head of capital market sustainability development said that Thai stocks rebounded according to other stock markets in Asia. After the US stock market, Europe recovered. Because investors should have already heard the news about the US banking crisis and the SET index has dropped considerably to the low point yesterday. Which asks investors to analyze, distinguish, follow news What are these effects caused by? affect Thailand or not should not panic

For stocks that dropped nearly 50 points yesterday (14 March), it came from 2 main factors: fear, the closure of two banks in the US / Europe, bank failures, and specific reasons for that bank. Not applicable to all US banks. and not related to banks in Thailand The problem of the bank that failed was caused by the depositor being a venture capital fund (VC) as a startup. When a business needs money, it goes to withdraw money. While bank assets are decreasing and is also sensitive to rising interest rates in the US It causes liquidity problems, while Thai banks are different, customer bases, investments are different. the Bank of Thailand Supervise and have a stable position In addition, it can be seen that the FED came out to help in a timely and strong way. Investors are worried That the US government and around the world have come out to build confidence that the crisis in the banking sector can be contained.

“Thai banks have different customers from US banks, most of them are real sectors. Reserves are also high. You have to look at the logic, that is, they are not related. But investors are scared. At this moment, people began to understand the situation even more. And since the Thai stock market has about 20% of energy stocks, so when oil prices drop It affects this group of stocks and affects the SET, ”said Dr. Sorapol.

Source: Thai News Agency