Kasikorn Securities (KS) predicted movement in the SET Index between the range of 1,430-1,440 points, while the market continued a positive trend following more clarification on the THB 10,000 handouts. Interest downtrend cycle would commence in connection with the US policy rate which shall see a decrease on September 18.
Meanwhile, Kingsford Securities indicated SET Support at 1,425-1,420 with Resistant at 1,440 – recommended gradual Buy in retailers e.g., CPALL, CPAXT, CRC, BJC and GLOBAL; finance e.g, SAWAD, MTC and TIDLOR benefiting from debt restructures and interest downtrend; AOT, AAV, MINT and CENTEL as tourist season approaches; as well as CK, STEC, TASCO and SCC benefitting from THB 100 billion investment in infrastructure.
Application for virtual bank license will close on September 19 after which the selected 3 applicants would be announced by the Bank of Thailand and the Ministry of Finance in June, 2025.
The Stock Exchange of Thailand (SET) requested that AKS Corporation PCL. clarify its financial statements for Q2F24 within September 24, following significant implications concerning an investment value by Egronix Limited, share sale agreement executed with Wind Energy Holding Limited, and land deposit without the transfer of ownership.
Investors are doubling down on the US Fed cutting an interest rate amidst concerns about a weak labor market. CME Group indicated investors weighing in 59.0% for a 0.50% cut of interest rate to 4.75-5.00% in the coming meeting on September 18, in contrast to 30% last week.
Boeing’s production became stagnant while liability accumulated as the strike carried on for the fourth day – over 30,000 union workers, initially asking for a 40% increase, rejected the proposed 25% pay increase over four years at the cost of annual bonus and will renegotiate the terms on Tuesday.
Sales of iPhone 16 during the release period is noticeably lower than that of iPhone 15. The disappointing number was due to a delayed application of Apple Intelligence, a growing competition in the Chinese smartphone market, and consumers lacking the desire for new phones.
Masoud Pezeshkian, President of Iran declared no hypersonic missiles were supplied to the Ansarullah (Houthi), while the Houthis broadcasted their launch of “Palestine 2” hypersonic missiles into Israel on Sunday.
