HoonSmart.com>>Kazicorn Securities expects the stock index to move above or below 1,400 points following December's export figures. Direction of foreign capital and operating results of the company for the 4th quarter of 2023 As for the baht value, Kasicorn Bank's range is hovering around 35.00-35.80 baht per dollar. After registering a weak value of more than 1 month at 35.71 baht per dollar. In the last week
Looking at stocks for the next week (22-26 Jan 2024), the Thai stock index has support levels at 1,385 and 1,370 points, while resistance levels are at 1,400 and 1,425 points, respectively, according to Kasikorn Securities.
Kasikorn Research Center assesses key factors to watch, including December export figures. Thailand, direction of foreign capital and company's operating results for 2023 4th quarter
Key US economic data includes durable goods orders. New Home Sales Personal Income and Expenditure and PCE/Core PCE Price Index for December, PMI Index (Preliminary) for January, 4Q23 GDP numbers, including the number of weekly jobless claims. Meanwhile, other overseas economic data includes BOJ and ECB meetings, January PMI index (primary) of Japan, Eurozone, UK, as well as China's January LPR interest rate setting.
On Friday, January 19, 2024, the SET Index closed at 1,382.51 points, down 2.19% from last weekend's level. The average daily trade value was 45,832.93 million baht, an increase of 11.20%, while the mai index closed at 412.50 points, down 1.92%.
Thailand's stock market index continued to fall from last week due to selling pressure from foreign investors. Thai shares have fallen steadily since the start of the week. That's because no new factors have come in to support it, with concerns that domestic economic stimulus measures may be delayed, and concerns that the central bank will keep interest rates high for a long period of time. (after some central bank officials expressed their view that there is no need to rush to cut interest rates) as well as concerns about the Chinese economic outlook. After the GDP for the 4th quarter of 2023 came in lower than the market expected. There is also a negative factor putting pressure on Thai stocks. As a result, stocks in every industry group led to strong selling. However, Thai stocks recovered somewhat over the weekend.
As for the baht's value, next week (22-26 Jan 2024), Kasicorn Bank sees an operating range of 35.00-35.80 baht per dollar. After registering a weak value of more than 1 month at 35.71 baht per dollar. Last week the baht briefly strengthened at the start of the week as gold prices rose in global markets. Additionally, there is still no signal for a change in monetary policy guidelines from the BoT. However, the bond weakened for the rest of the week. The government's economic stimulus measures may be delayed as the US dollar gradually strengthens following a rise in US bond yields after a signal that This coincides with the market gradually discounting the prospect of the central bank cutting interest rates at its March meeting. come down
In addition, the baht's depreciation coincided with net selling pressure on Thai stocks and bonds by foreign investors. However, the baht lost its weak period and recovered somewhat over the weekend following the currency's direction. Overall
The baht ended at 35.52 baht per dollar, compared to 35.06 baht per dollar on Friday, January 19, 2024 (prior to the New York market session). On the previous Friday (12 January 2024), between 15-19 January 2024, there was a net sale and net outflow of 10,938 million baht of Thai shares to the investment portfolio position of foreign investors. 8,761 million baht remaining in the Thai bond market (net sales of bonds 8,331 million baht and maturing debt instruments 430 million baht)
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