Stocks
All news related to the Stock Exchange of Thailand
All news related to the Stock Exchange of Thailand
The SET Index looks vulnerable to concerns about the transfer of political power and the coming Federal Reserve meeting. The index could plummet if investors lack confidence in the new government and if the Fed hikes its short-term rate at a faster pace than expected. Among factors affecting the market:
The global economy and investment climate have been quite volatile this month. Most economic figures have begun to show signs of slowing down, while events that affect investment have been mostly negative.
The Stock Exchange of Thailand has posted the highest trading value in Asean since 2012, but it needs a long-term plan to manage opportunities and challenges as capital markets evolve.
The SET index retreated in the past week, with key supports at 1,510 and 1,520, due mainly to political uncertainty, while first-quarter earnings also triggered sell-on-facts activity.
Sentiment surrounding SET was downbeat on Monday as investors dumped shares related to politics and big-cap stocks that might be adversely affected by the policies of the Move Forward Party.
The Stock Exchange of Thailand struggled with another period of weakness in April. The index started the month at 1,609.17 points and declined steadily thereafter, hitting its low on the last trading day of the month at 1,524.30 and closing at 1,529.12, a drop of 80.05 points or 5% in just one month.
RECAP: Most Asian share markets were subdued on Friday and the dollar held onto its gains from safe-haven flows, after soft economic data from the US and China fuelled concerns about a global slowdown.
We expect the SET Index to be volatile in May given the upcoming general election, earnings reporting season and market reaction to the Federal Reserve meeting.
Major Asian stock exchanges sank on Wednesday on renewed investor concerns that a softening US economy and troubles with that country's regional lenders could slow Asia's growth.
'Sell in May and go away" is an old market saying that is likely to ring true this year. Several risk factors have emerged, such as small US banks facing deposit outflows and central banks continuing to raise their interest rates amid stubbornly high inflation.