Thailand’s SET Index closed at 1,556.09 points, increasing by 1.15 points or 0.07%, with a trading value of THB 68.73 billion. The analyst stated that the Thai stock market plunged more than 20 points in early trading, tracking selling pressure in DELTA due to concerns over volatile movement in global tech stocks amid U.S. hyperscalers’ financial reports. Additionally, a retreat in commercial banks also contributed to the downward movement.
However, the Thai benchmark later bounced back in the afternoon session, as traders returned to bank stocks on the prospect of earnings recovery.
For tomorrow, the analyst eyes a potential technical rebound for the Thai market after the index slid near the support level of 1,530 points, making valuation more attractive.
In addition, investors are recommended to monitor U.S. Treasury yields and listed companies’ financial results.
UK consumer inflation increased more than economists had projected in September, with higher petrol and diesel prices driving much of the advance. Annual inflation reached 3.5% in September, while economists surveyed by Reuters had expected the rate to come in at 3.4%.
