HoonSmart.com>>Kasikorn Securities provides the highest resistance level at 1,470 points, and from last week, the index fell by 2.24%, reaching its lowest level in more than 2 years and 9 months at 1,429.99, while the baht fell the most in almost 11 years. Months 37.24 baht per dollar before recovering and closing at 37 baht, Kasikorn Bank expects next week to move in the range of 36.60-37.20 baht.
Kasikorn Securities Corporation Looking at the stocks next week (October 9-13, 2023), the stock index has support levels at 1415 and 1400 points, while resistance levels are at 1460 and 1470 points respectively.
Kasikorn Research Center evaluates important factors to monitor, including the trend of foreign capital.
Important US economic data includes the Consumer Price Index. September Producer Price Index Fed meeting records (September 19-20) include weekly unemployment claims. Meanwhile, other foreign factors include industrial production in August. Eurozone and September China economic data, such as the Consumer Price Index, Producer Price Index, and import and export information
The stock index closed on Friday, October 6, at 1,438.45 points, down 2.24% from the level of the end of last week. While the average daily trading value reached 48,209.07 million baht, a decrease of 12.86%, the May index fell by 3.27% to close at 435.82 points.
The stock index recorded its lowest levels in more than two years and nine months at 1,429.99 points mid-week. It fell again over the weekend.
Thai stocks fell sharply at the start of the week after continued selling pressure from foreign investors amid concerns about rising US bond yields. Baht depreciation including a downward revision of the Thai economic outlook by the World Bank. The stock later moved within a narrow range. Before falling again at the end of the week amid strong selling in large stocks, led by the energy sector, following a decline in global oil prices due to concerns about the slowdown in global oil demand.
As for the value of the baht, next week (October 9-13), Kasikorn Bank will see a movement range of 36.60-37.20 baht per dollar. After the weakest value in about 11 months, at 37.24 baht to the dollar. But she partially recovered at the end of the week.
The baht fell earlier in the week, in line with most Asian currencies. While the dollar was appreciated amid expectations about the possibility of raising interest rates in American politics. In addition, the baht continues to face downward pressure in line with the decline in gold prices in the global market. And the investment position of foreign investors who are net sellers of Thai stocks and bonds as well.
However, the lackluster lost its period of weakness and partially recovered at the end of the week. While the dollar declined in value after the decline in US government bond yields. After September private sector employment numbers in the United States were lower than expected in the market.
The baht price closed on Friday, October 6, 2023, at 37.00 baht per dollar, compared to 36.41 baht per dollar. The previous Friday (September 29)
As for the investment portfolio situation of foreign investors in the period from 2 to 6 October 2023, there was a net sale of Thai stocks worth 8,855 million baht and a net outflow from the Thai bond market worth 4,072 million baht (net sales of 3,069 million baht bonds and expired debt instruments worth 1.003 million baht)
“Reader. Infuriatingly humble coffee enthusiast. Future teen idol. Tv nerd. Explorer. Organizer. Twitter aficionado. Evil music fanatic.”