Tisco Securities (Tisco) expected Thailand’s SET Index to move narrowly around 1,400 points in the same direction as regional markets, pressured by the negative session in Wall Street last night due to a profit taking after making several new highs, while investors were starting to slow down before the long holiday.
Still, Tisco expected the Thai stock market to receive a positive sentiment from funding in TESG.
Maybank Securities wrote in a morning note this morning that short-term foreign factors are negative. The US stock market corrected in the range of 1.27% – 1.50%, while the VIX rebounded +9.1% from profit-making pressure after US economic numbers showed the Consumer Confidence Index accelerating to 110 from 102 points in the previous month, surpassing expectations at 104.5 points.
The final figure of the US gross domestic product in the third quarter of this year will be released later today. Economists polled by Reuters expect growth from the world’s largest economy to rise 5.2% from the same quarter last year. Meanwhile, the Personal Consumption Expenditures price index for the third quarter is expected to increase 2.3% from last year, which would be the slowest rise since the fourth quarter of 2020.
