The broker recommends holding cash. During the volatility of Thai stocks
Bangkok, May 22 - Thai stocks in the afternoon returned to decline from the morning close, turning up 2.28 points after falling 1,500 points in some periods. Brokers recommend holding "cash".
The afternoon SET opened slightly higher and at 2:32 p.m. dropped 0.21 points (-0.01%) after the morning market opened, falling more than 20 points before buying back in. Made a minimum of 1,491.12 points and a maximum of 1,518.49 points and closed this morning at 1,517.17 points, an increase of 2.28 points (+0.15%), trading value of 31,646 million baht.
Mr. Watan Jitsomnuek, Director of Strategic Analysis Department, Pai Securities, said that the Thai stock market early in the morning fell against other stock markets in Asia. Investors are still worried about the government. The party has advanced as a leader, including 313 votes, still lacking another 63 votes to pass the 376 votes to appoint the Prime Minister. together with the policy of the far-reaching party Focus on eliminating monopoly capital and providing public welfare such as 3,000 baht gift for the newborn, free education, free food, transportation, minimum wage increase of 450 baht, helping SMEs in the first 6 months. The government's source of income is expected to come from collecting large capital group tax Causing concerns that it will affect the expenses of listed companies.
However, when the SET has continued to decline from the previous week quite a lot. Some investors see it as an opportunity to accumulate from Valuation to an interesting level. Resulting in buying pressure to push the SET back into positive territory.
Mr. Wikit Thirawanrat, Director of Private Client Research, Bualuang Securities said that in this situation should hold cash because it can be seen that this morning it has fallen below the level of 1,500, which the government should be allowed to negotiate with the political parties, but the market reflects still caused by global economic problems Fear of economic recession Reflected on commodities and affecting the expected results in the 2nd quarter of 2023, the results will slow down after the 1st quarter of 2023, the overall performance missed the target, and Bualuang Securities has lowered its expectations for the Thai stock index late. This year, it has dropped about 100 points or 6% down to about 1,630 points. If you are a long-term investor If you like the average DCA format, you can't go wrong. But if playing rounds, ask to hold cash first. In this round, the index may fall to 1,470 points and may rebound back.-Thai News Agency
Source: Thai News Agency