BANGKOK, 13 Jul- The Thai stock index moved in negative territory this morning. Asian stock markets The baht fluctuated Waiting for clarity to vote for the Prime Minister
Ms. Kanchana Chokpaisarnsilp research executive Kasikorn Research Center said The baht adjusted to 34.56 baht per dollar. This morning (9.30 a.m.) it appreciated compared to yesterday's close at 34.92 baht per dollar. The baht touched the highest level in one month at 34.51 baht per dollar in the beginning amid selling pressure on the dollar. which depreciated in accordance with the decline in US bond yields After the consumer price index data in June. in the United States slowed down more than the market had expected. And support expectations that the Federal Reserve (Fed) is nearing the end of its policy rate hike cycle. Headline inflation rose 3.0% YoY in June (below market expectations of 3.1% YoY and below 4.0% YoY in May), while core inflation rose 4.8% YoY in June. Nov. (below consensus of 5.0% YoY and below 5.3% YoY in May. ) However, the movement of the baht may fluctuate during the day. Because there are still political issues in the country that must be monitored closely.
As for the movement of the baht today, it is expected to be at 34.50-34.80 baht per dollar. The important factors that must be monitored include the political situation in the country. direction of foreign capital Bank of Korea Monetary Policy Meeting Outcome Number of weekly unemployment benefits and Producer Price Index for June. of the United States
Mr. Wichit Arayaphisit, Investment Strategist Liberator Securities said that the Thai stock market opened negative this morning. by even moving up a little positive different from Asian stocks because of the fear of political impact which, although by having to keep an eye on Mr. Pita's vote Lim Chareonrat far-reaching party leader whether to become Prime Minister or not Which the 8-party coalition now has 311 votes, must use 65 senator votes to exceed 376 votes, which if not complete and the country returned to chaos It must be a point of caution when investing.
Mr. Kornphat Worachet, Director of Investment Research and Service Department, Krungsri Patanasin Securities, evaluated the establishment of the government in 4 cases, Case 1 is Mr. Pita Limcharoenrat. far-reaching party leader Voted as Prime Minister, Progressive Party+ 8 parties in the current coalition will form a government with 311 votes. Clarity supports the SET, but the policy risks to capital markets in the medium term are something to be monitored. and may limit the frame around 1600-1620 points
Case 2: Mr. Phitha was not voted as prime minister. While the Pheu Thai Party became the leader instead and still set up a government with 8 The current coalition, 311 votes, sees clarity in support of the SET, but the policy risk to the capital market in the medium term will be lower than Case 1, which will cause it to swing up around 1680-1720 points. The groups moving better than the market are energy, communications, and real estate. and if there is no violent assembly Groups that move positively follow the groups based on internal consumption, namely banking groups, retail groups, industrial estates and travel group
Case 3: Mr. Phitha was not voted as prime minister. While the Pheu Thai Party took over as the leader instead While turning the pole to capture the opposition party Estimated around 280-310 votes, looking for clarity to support the SET, but the policy risk to the capital market in the medium term will be lower than Case 1, which will cause it to swing up around 1620-1680 points. The groups moving better than the market are energy, communications, contractors. the But the risk of rallies that may occur is more stressful than case 2, which will put pressure on domestic consumption groups until the rally ends, namely banks, retailers, industrial estates and tourism groups.
Case 4: Mr. Phitha was not voted as prime minister. While the formation of the government will be in the form of a minority, that is, the current opposition party. Estimated around 140-150 votes And there is a risk of a rally that may occur, which is the most stressful in all cases, assessing the SET frame at 1350-1460 points.-Thai News Agency
Source: Thai News Agency