Thailand’s stock market index movement opened this morning (October 6) at 1,588 points, up 8.61 points or 0.54%, with a total trading value of 8.04 billion baht.
Mr Weerawat Wirotphoka, director of securities analysis at Finansia Syrus Securities, said that the Thai stock market this morning was changing sideways – to the upside. It is in line with other Asian stock markets after the index rose for two consecutive days, causing some slowdown. In addition, the price of crude oil increased. After a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, or OPEC Plus, it decided to cut production by 2 million barrels per day for November. It was OPEC+’s biggest production cut since 2020 and the second straight month of production cuts, prompting investors to return to inflation concerns. The yield of US government bonds ( Bond Yield ) also recovered.
Ready to provide support at 1,575 points and resistance at 1,590 points
While Krungsri Securities assessed the SET to swing 1570-1,590 points, the index was supported by the energy sector following the rise in crude oil prices after OPEC Plus cut production by 2 million barrels per day in November. including buying the strength of stocks with unique positive factors However, the number of US private sector employment in September is a larger than expected surge could lead the Fed to continue raising interest rates. In addition, short-term profit taking will alternately pressure the index to weaken.