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Encourage Thai stocks to rise like foreign countries Gold price rises 50 baht
Date 31 August 2020 Time 09:42
Outlook for Thai Equities Aug 31, 2020 The index is expected to rise in line with foreign markets. While the price of gold in the country increased by 50 baht
Mr. Kiticharn Sirisuk-archa Senior Vice President of Retail Analysis CGS-CIMB Securities (Thailand) said that the Thai stock market this morning is expected to rise in line with foreign markets. Asian stock markets moved into positive territory this morning. For example, with the Dow, which added more than 100 points on Friday. And this morning, the Dow futures were positive. This is due to the continued depreciation of the US dollar, which supports the speculation of risky assets.
After the president of the United States Federal Reserve (Fed) announced that the opportunity for inflation was greater than before. While the interest rate has not risen in a hurry. Causing the US dollar to show a direction of continuous depreciation AND US economic data came out better than the market expected. Asian currencies appreciated this morning, causing the flow of funds to flow into Asia. But I still can’t say whether or not it will enter the Thai stock exchange. Thailand’s bond yield also increased. What is the selling force of the bond? But I still can’t say whether to buy or not
Also, MSCI’s investment weighting, which is effective today. Thai equities were hit by US $ 22 million This makes it possible to see a bulky trading volume at the end of the market. And monitor political factors in the country Regarding political meetings
Ready to provide support 1,320-1,315 points and resistance 1,330-1,337 points.
The Gold Trading Association reports that the price of gold increases daily by 50 baht, gold bars buy 28,800 baht, sell 28,900 baht, gold jewelry to buy 28,288.56 baht, sell 29,400 baht.
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