Bangkok: Thai stocks fell sharply this morning, falling more than 10 points, going against Asian stocks. The baht strengthened and moved between 32.54-32.56 baht per dollar. Reporters reported that this morning, Thai stocks fell sharply. At 10.37 a.m., they fell more than 15 points. The index moved at 1,133 points, pressured by selling pressure on DELTA stocks, coupled with continued selling pressure from foreign investors on CPALL. The negative momentum continued from the MSCI adjustment on Friday. Meanwhile, Asian stocks opened higher today (June 4), following the direction of the New York Stock Exchange, which closed up more than 200 points on Tuesday (June 3), supported by chip stocks, including Nvidia.

According to Thai News Agency, Mr. Wichit Arayapisit, investment strategist at Liberator Securities, said that at the same time, the market is keeping an eye on domestic political developments, which have signals of a cabinet reshuffle. However, even if the cabinet is reshuffled, it is expected that the new ministers will accelerate economic stimulus. He sees that the Thai stock market index in June will be at 1,120-1,200 points, and the progress of the government's economic stimulus measures in various matters must also be monitored.

Ms. Kanchana Chokpaisansin, Research Manager, Kasikorn Research Center, said that the baht was adjusted to around 32.54-32.56 baht per US dollar this morning (09.00) after the domestic market reopened after a 4-day long holiday, compared to the closing level of 32.83 baht per US dollar last Friday. The baht strengthened in line with the global gold price, while the US dollar lacked support during the period when the market focused on the trade war issue, especially the progress of negotiations between the US and its major trading partner, China. In addition, the market is also waiting to follow important US economic figures that will be released this week.

For today's baht movement framework, the initial assessment is 32.50-32.80 baht per dollar, while important factors to monitor include the direction of gold prices in the world market, foreign fund flows, signals regarding US trade negotiations with trading partners, the May PMI index for the service sector in Japan, the Eurozone, and the UK, as well as US economic figures such as the PMI and ISM index for the service sector, private sector employment figures for May, and the Fed's Beige Book. It is believed that the Thai stock market index in June will be at 1,120-1,200 points, and the progress of the government's economic stimulus measures must be monitored.