Kasikorn Securities expects Thai stocks to fluctuate between 1,360 -1,410 points this week (4-8 December 2023), tracking monthly inflation figures. NOV., DIRECTION OF FOREIGN CAPITAL
KAZIKORN SECURITIES COMPANY LIMITED Assess trendsThailand stock market This week (December 4-8) SET Index (SET Index) supports at 1,375 and 1,360 points, while resistance levels are at 1,400 and 1,410 points, respectively. Kasicorn Research Center assesses important factors to be monitored, including November inflation numbers. Important US economic data on the direction of Thai and foreign capital include the ISM/PMI service sector index, ADP private sector employment data, and non-farm employment figures. and the unemployment rate in November, including the number of weekly jobless claims.
Other external factors include the service sector PMI index for November. China, Japan and the Eurozone 3Q23 GDP figures for the Eurozone and Japan as well as import and export figures for November. of China
Summary of Thailand Stock Market Movements 27 November – 1 December 2023
The Thai stock index continued its decline from the previous week (27 November – 1 December 2023). Thai stocks moved briefly earlier in the week with the positive factor of a decline in US bond yields. Then there are negative factors such as concerns about the direction of the Thai economy after the MPC before gradually correcting. Thailand’s economic growth forecast for both this year and next has been cut. Despite the decision to maintain interest rates at 2.50%, the MSCI rebalancing adjustment that took effect on November 30 combined with selling pressure from foreign investors, in addition to continued selling pressure in shares of airport business operators. Thailand stock index this week.
On Friday, December 1, the SET index closed at 1,380.31 points, down 1.23% from last weekend’s level. Meanwhile, the average daily trade value was 47,744.16 million baht, an increase of 30.39% from the previous week. The mai index fell 0.64% to close at 397.61 points.
Regarding the investment portfolio position of foreign investors between 27 November – 1 December 2023, foreign investors net sold 5,912.2 million baht of Thai stocks and had a net outflow of 4,508.9 million baht from the Thai bond market. and overdue debt instruments of 3.5 million baht)
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