1) FSS expects SET Index within 1,515-1,535 range, buoyed by energy stocks
Finansia Syrus Securities (FSS) expected Thailand’s SET Index within the range of 1,515-1,535 points with oil prices buoying the main index in the short-term in response to the speculation on OPEC+ meeting this week. Meanwhile, the Senate is set to pass the debt ceiling, which should be before the June 5th deadline. This could be a positive factor to attract short-term flows.
2) US Senate is expected to pass the debt ceiling bill in hours
The U.S. Senate is set to pass a bill to lift the government’s $31.4 trillion debt ceiling late Thursday, which would be ahead of the deadline on June 5th. This would suspend the debt limit through January 1, 2025.
If the bill finally passes the Senates, the Congress will send the bill to President Joe Biden’s table to sign.
The U.S. House passed the bill on Wednesday after months of back and forth between the Republicans and Democrats.
3) Hang Seng Index up 3%, led by tech stocks
Hong Kong’s Hang Seng Index was up more than 3% in the morning session on Friday, led by the technology sector such as Baidu, JD.com and Alibaba that rose around 4%. The index briefly entered a bear market a few days ago, falling more than 20% from its 52-week high of 22,688.90 points in January.
