Thailand’s SET Index closed at 1,447.53 points, decreased 4.43 points or 0.31% with a trading value of 35.89 billion baht. The analyst indicated that the Thai stock market is poised for a downward swing today, with light trading volume reflecting profit-taking before tomorrow’s market closure for Constitution Day. As a result, investors are not in a hurry to enter the market.
Buying pressure has been seen in DELTA, anticipating its exit from the Cash Balance criteria by December 11 and resumption of trading on December 12.
Moreover, foreign fund flow is expected to remain stable as the Thai Baht strengthened against the US dollar to 33.80 today. Investors are also waiting for US inflation data scheduled for December 11.
For the Thai stock market on Wednesday, December 11, the movement is predicted to fluctuate within a range, with support at 1,440 points and resistance at 1,455 points.
In a significant policy shift, China has announced plans to adopt a more proactive fiscal policy while moderately loosening its monetary policy in the upcoming year, marking its first such change since 2011.
According to a Reuters report citing Xinhua news agency, this strategic decision was unveiled by the Politburo, the Communist Party’s top decision-making body, under the leadership of President Xi Jinping.
The announcement signals potential for increased economic easing, a move likely to be favorably received by global investors looking for stability in one of the world’s largest economies.
Following the approval from the Indian government to provide satellite services in India, Mr. Patompob Suwansiri, CEO of Thaicom Public Company Limited (SET: THCOM) stated that the demand for broadband satellite services in India is ten times higher than Thailand. He is confident that the Indian market alone will generate an additional 20-30% in revenue for Thaicom, potentially accounting for one-third of Thaicom’s current total revenue.
As for the Data Center and Cloud businesses, Mr. Patompob stated that Thaicom has decided to collaborate with companies in the group, including Gulf Energy Development Public Company Limited (SET: GULF) to synergize the satellite technology in the future.
Daol Securities (Thailand) has expressed a positive outlook regarding the acquisition of shares in Thai Airways International Public Company Limited (SET: THAI) by Krung Thai Bank (KTB) and Bangkok Bank (BBL) through the debt-to-equity conversion. The acquisition is expected to benefit both banks by reducing non-performing loans (NPLs) as soon as the fourth quarter of 2024.
