The morning session saw the Thai stock market fall 10 points to close at 1,635.82, in line with foreign markets, after Thailand reported highest headline inflation in 13 years for May, with big-cap shares such as AOT leading the sell-off.
The Stock Exchange of Thailand (SET) fell 10.26 points, or 0.62%, to 1,635.82, with a trading value of THB34,785 million.
Krungsri Securities said that the SET might drop and test 1,640-1,635 support today. Despite easing Covid-19 restrictions in Beijing and high crude prices, lingering concerns the Fed would keep hiking rates until inflation is under control drove up US 10-year bond yield to above 3% and will slow foreign fund flows. Hence, recommending a Selective Buy strategy.
