The share price of Thailand’s auto loan providers led gains among the top 100 securities in the main bourse on Monday as the market jumped on hopes that interest rates are bearing its peak.
At the closing of the morning session on Monday, Ngern Tid Lor Public Company Limited (SET: TIDLOR) rose THB 1.50 or 5.94% to close at THB 26.75 per share.
Srisawad Corporation Public Company Limited (SET: SAWAD) increased THB 2.25 or 4.23% to THB 50.50 per share.
Ratchthani Leasing Public Company Limited (SET: THANI) gained THB 0.14 or 3.85% to THB 3.78 per share.
Muangthai Capital Public Company Limited (SET: MTC) edged THB 1.25 or 3.68% higher to THB 35.25 per share.
LH Securities (LHS) stated that the U.S. non-farm payrolls for March was 236,000, which was close to the market’s expectations for 238,000.The figure was lower than 311,000 recorded in February. Meanwhile, the unemployment rate was close to expectations as well at 3.5%. The market is now expecting that the US rate hikes are nearing its peak, which would be a positive sentiment to equities, especially loan and leasing stocks that book income from fixed interest rates such as MTC, SAWAD and TIDLOR.