Bangkok, The Thai stock market plunged more than 20 points, following global stocks fearing a recession in the US economy, which resulted in a weaker dollar and a stronger baht, at around 35.23-35.25 baht per dollar. Reporters reported that the Thai stock market opened down more than 20 points. Mr. Aphichat Phubanjerdkul, Senior Director, Strategic Analysis, TISCO Securities, CISA, said that it is in line with global stock markets that the market is returning to fear that the US economy is in recession after employment figures slowed down and the unemployment rate was the highest in 3 years, which may cause the US Federal Reserve (Fed) to cut interest rates more aggressively. In addition, investors are also keeping an eye on political cases, especially the impeachment trial of the Prime Minister on August 14, which may affect the capital market, including looking at the performance of listed companies in the second quarter of 67, which is currently expected to be good, growing by an average of 14% compared to the same period last year, which will be a supporting force for the Thai stock market. Central Pattana Public Company Limited (CPN) revealed that the news that the company will acquire the assets of the KaDeWe Group, which operates department stores in Germany, including KaDeWe in Berlin, Ober Pollinger in Munich, and Alsterhaus in Hamburg, is not true. The Kasikorn Research Center reported that the baht was adjusted to around 35.23-35.25 baht per dollar this morning (10.47 a.m.) compared to the domestic market closing level at the end of last week at 35.36 baht per dollar. The baht continued to move in a stronger range than at the end of last week, partially supported by negative factors in the dollar after the US non-farm payrolls and unemployment rate figures reported on Friday showed weaker signals than the market expected, supporting the possibility of the Fed cutting the policy interest rate at the September meeting. In addition, 'some' analysts abroad are beginning to believe that if the US econom ic data is not good, the Fed may cut the policy interest rate by more than 0.25 percent at the same meeting. For the baht's movement framework today, the initial assessment is 35.15-35.45 baht per dollar, while important factors to monitor include the direction of foreign capital, Thai political factors, the July service sector PMI figures of the Eurozone and the United States, and the July service sector ISM index of the United States. Source: Thai News Agency