Stock market remains weak, investors told to play safe

The weakness is due to concerns about the US Federal Reserve’s interest rate hike, Krungsri Securities noted, and recommended that investors focus on a selective buy strategy, targeting prominent stocks such as Siam Commercial Bank (SCB) and GFPT Plc shares.

Foreign net sales have amounted to 110 billion baht since the beginning of the year putting continuous pressure on the SET index. However, due to technical signals indicating oversold conditions, it is expected that the index will rebound.

As for the Dow Jones stock market, investors are cautious and holding back from trading, awaiting the Fed chair’s latest statement. Concerns about interest rate hikes and various brokers gradually reducing recommendations for technology stocks have led to a decline in stock prices and significant pressure on the Nasdaq index, which dropped by approximately 1.16%.

Whether concerns about the…