SET sees sideways drift
Stock Exchange of Thailand or SET index on Wednesday is expected to maintain a sideways drift at 1,724-1,745 as investors continue to wait and see if the US Federal Reserve meeting on July 30-31 will result in interest rates being cut.
Although most investors believe that the Fed will cut the interest rate, they are concerned that the rate will be between 0.25 per cent and 0.50 per cent, Globex Securities Co Ltd said on Wednesday.
Meanwhile, investors will also be looking closely at the policies to be announced by government on July 25 and 26, particularly the urgent measures to drive the country’s economic growth in the remainder of this year following the drop in exports in the first half of the year, the broker said.
On Tuesday, the SET index closed at 1,724.87, a drop of 2.71 points from Monday with a trade value Bt62.13 billion.
