Thailand SET Index (NYSEARCA:THD): The SET index may be heading down to retest the March 14 low

 


The SET index looks broken. Beware that the index could head down further to retest the March 14 low, ~ 1,525, if it can't bounce off from here. The market continues to be under selling pressures on concerns that the Thai central bank will hike the key policy rate by 25 bps, to 2.0%, at the May 31 meeting. At their last meeting in March, Thailand's monetary policy committee had already signaled more tightening as they attempt to bring inflation back within targets.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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