Finansia Syrus Securities (FSS) expected Thailand’s SET Index to continue moving in a sideways to sideway-up trend within the range of 1,405-1,420 points, boosted by the positive momentum from the U.S. as the market is still optimistic on the Fed’s rate cut to begin in March, while the economy is trending toward a soft landing.
The analyst recommended investors to pick stocks with strong 4Q23-2024 earnings momentum while having low PER/PBV compared to pre-Covid level.
Oil prices slowed down in the morning session on Wednesday after gaining more than 2% on Tuesday coming out of the Christmas break to the highest level this month as attacks in the Red Sea continue to raise concerns among shipping industry for potential disruption.
The international benchmark Brent crude dipped $0.19 or 0.23% to $80.88 a barrel. Meanwhile, the West Texas Intermediate (WTI) fell $0.28 or 0.37% to $75.29 a barrel.
On Tuesday, Brent crude rose as much as 3.4% during the session, but closed 2.5% higher at $81.07 a barrel. Meanwhile, WTI settled at $75.57 per barrel, up 2.7%.
The price of Bitcoin is stabilizing at a higher level as 2023 is drawing to a close in speculation of the first U.S. spot bitcoin exchange-traded fund, which some experts said that it could be coming early January.
Bitcoin is trading at $42,308 per coin as of Wednesday, up 150% for the year. The price topped $44,000 early December for the first time since April 2022.
