Thailand SET Index (NYSEARCA:THD): The SET index is retesting the March 14 low

 


The SET index is retesting the March 14 low, ~ 1,525. Be aware that the SET could head down further to retest 1,512.18 if it can't bounce off from here. The market continues to be under selling pressures on concerns about the May 14 general elections as well as another round of rate hikes by the Thai central bank at their May 31 meeting.

The BOT could pause their rate hikes for now, though, as headline inflation cooled to 2.83% in March, within their target range of 1% and 3%. The move would be consistent with central banks in Indonesia and Malaysia where rate hikes have paused, per CNBC.

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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