AIRA Securities Public Company Limited expected the Thai stock market in the morning session to move in sideways direction, in line with other Asian stock markets, after Mr. James Bullard, the chief executive officer and president of the Federal Reserve (Fed) of St. Louis, signalled that the interest rate hikes to the range of 3.75-4.00% this year is still lower than Fed’s expectations for the level that could bring back the inflation rate to the target of 2%. He asserted that the range of interest rates to effectively contain the inflation rate should be 5-7%, causing bond yields and dollars to rise.
In addition, there are no new factors to support the market, the investors will trend on the stocks based on the performance of the fourth quarter of 2022, which will mainly be positive.
Aira Securities gives a support level at 1,610 points and a resistance level at 1,625 points.