Kasikorn Securities sees next week (March 11-15) that the Thai stock index has support levels at 1,375 and 1,355 points.
While the resistance levels stand at 1,400 and 1,415 points respectively, Kasikorn Research Center assesses important factors that need to be monitored, including the trend of foreign capital.
Important US economic data includes the Consumer Price Index. Producer price index, retail sales and industrial production in February, including the number of weekly unemployment claims. While other foreign economic data includes:
January industrial production in the Eurozone and the UK February producer price index in Japan as well as Chinese yuan-denominated lending volume in February.
Last week the Thai stock market rebounded at the end of the week following the trend of regional stock markets. Thai stocks received signals that the Federal Reserve may be close to cutting interest rates, and Thai stocks fell at the beginning of the week after continued selling pressure from foreign investors. After the end of the fourth quarter 2023 earnings announcement period, there are no new factors yet. Enter and stimulate the market
However, Thai stocks have been rising since mid-week, supported by share buybacks. After Thai stocks fell for 7 straight business days before rebounding strongly again at the end of the week following the direction of regional stock markets after the Fed Chairman indicated that the Fed may be close to cutting interest rates if inflation remains at level. It makes sense although no specific time frame has been given.
Thai stocks rose everywhere, especially at the end of the week. Led by finance stocks, which are expected to benefit from the downward trend in interest rates, including the technology and energy sectors.
On Friday, March 8, 2024, the SET index closed at 1,386.42 points, an increase of 1.39% from the end of last week, while the average daily trading value reached 40,153.90 million baht, a decrease of 31.43% from the previous week. May's index fell by 0.75% to close at 410.15 points.
By InfoQuest News Agency (March 09, 2024)
Tags: group, kasikorn securities, thai stocks
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