Mr. Therdsak Thaweethiratham, Executive Director of Asia Plus Securities, expects the SET index today to move down in line with foreign markets, following the US Federal Reserve Chairman's signal of monetary policy tightening, with emphasis on controlling inflation. This has led the market to increase the weight of a rate hike at the September meeting. As a result, bond yields and the dollar have strengthened, putting pressure on risk assets. Meanwhile, tensions in the Middle East have pushed oil prices higher, adding further pressure. Support is estimated at 1,575-1,580 points, with resistance at 1,600 points.
Fed signals tightening, increasing rate hike odds, pushing yields up.
Fed signals tightening, increasing rate hike odds, pushing yields up.
