Following a decline of over 1.5% yesterday, the Stock Exchange of Thailand (SET) dropped below the 1,450 points mark. This follows mounting apprehensions concerning escalating public debt and economic growth after the World Bank scaled down its forecast for the Thai GDP.
Daol Securities (Thailand) noted selling pressure from the majority of investor groups due to persisting worries about the Federal Reserve’s potential interest rate hike. The baht, in response to the continuous appreciation of the US bond yield and dollar, has fallen to an 11-month low, dipping below 37 baht (US$1).
The Thai bourse, heavily reliant on energy stocks, has also been impacted by a decline of over 2% in global oil prices.
Daol Securities noted that as investors gradually reduce risks, we foresee a continued decline in the SET index because no positive factors have been…
