Reporters reported that today (April 5, 2023) at 3:05 p.m., the Thai stock market index was at 1,576.84 points, down 17.21 points or 1.08% with a trading value of 33.9 billion baht.
side Kasikorn Securities stated in the analysis that The Thai stock market in the afternoon was in negative territory along with regional markets. Even though Thai inflation dropped to 2.83% and Japan’s service PMI came out better than expected at 55.0, the main issue investors were worried about is going forward to raise interest rates to curb inflation. may result in an economic recession on weak job openings and GDPNow that lowered US GDP estimates to 1.7%.
While the manufacturing purchasing managers’ index numbers declined in both the US and Europe. It is expected that the turnover this afternoon will be thin as some investors start to take a long break. Keep an eye on the service purchasing managers’ index data in Europe and the US, which will be released this evening – evening, if lower than expected, will put additional pressure on the stock market.
sideMr. Narongdej Chantaraphaisarn Assistant Director of Securities Analysis Department IRA Securities said that the US Federal Reserve (Fed) would find it difficult to cut interest rates quickly. due to rising oil prices As a result, inflation remains at a high level. In addition, during this week, our home market is overlapping with a long holiday.
The market will be closed tomorrow (April 6) for Chakri Day and next week is a long holiday for Songkran Festival. In addition, the US stock market will also be closed on Friday as Good Friday allows investors to reduce the risk of holding stocks.
Ready to provide support at 1,578-1,570 points and resistance at 1,595-1,600 points.