HoonSmart.com>>Kazicorn Securities offers support levels at 1,290 and 1,280 points, while resistance levels at 1,310 and 1,320 points respectively, investors are advised to follow statements from central bank officials. Political issues, company profits and the direction of foreign capital on the baht's value Kasikorn Bank sees an operating range of 34.90-35.70 baht per dollar.
As Gaziecorn Securities looks at the stock next week (12-16 August 2024), the stock index has support levels at 1,290 and 1,280 points, while resistance levels are at 1,310 and 1,320 points respectively.
The Kasicorn Research Center assesses key factors to watch, including reports from central bank officials. Domestic Political Issues 2nd Quarter 2024 Operating Results of Thai Companies and Direction of Foreign Capital
Important US economic data includes the producer price index. Consumer price index retail sales and homebuilding data for July begin, including the number of weekly jobless claims. Meanwhile, other overseas economic factors include GDP numbers for the second quarter of 2024 from the Eurozone, the UK and Japan. China's July economic data, such as the Eurozone and Japan's June industrial production retail sales, industrial production. and investment in fixed assets
On Friday, August 9, 2024, the SET index closed at 1,297.07 points, down 1.22% from last weekend's level. The average daily trade value was 43,273.51 million baht, up 8.27%, while the mai index fell 3.27% to close at 312.00 points.
Earlier in the week, Thai shares fell nearly 40 points to a 3-year and 9-month low of 1,273.17 points, falling in line with foreign stock markets amid concerns about the direction of the US economy. Many of them came out worse than the market expected after the US labor market data. As a result, investors sold shares in every industry group.
Thai stocks have gradually recovered since mid-week following the direction of regional stocks. This is because investors are relieved of their worries about the US economic problems. Several Fed officials later said that the US economy was not yet on track to enter a recession. In addition, certain shares have buyback power. Especially from the relatively good operating results in the Communications Group and the announcement of dividend payments. And the energy group benefited from the rise in oil prices in the global market. However, the upside for Thai stocks over the weekend was very limited. Due to the long holiday, investors are still waiting to closely follow political issues in the country next week.
As for the value of the baht next week (12-16 August), Kasikorn Bank sees a range of 34.90-35.70 baht per dollar.
The baht hit its strongest level in six-and-a-half months at 35.05 baht to the dollar. Amid selling pressure on the dollar earlier in the week. US labor market data for July came out worse than market expectations. This supports the prospect of the central bank starting to cut its policy interest rate at its September meeting. This is
However, the baht weakened mid-week following political factors. The dollar recovered following the dollar's repurchasing pressure during the period. The market rose more than expected after the ISM index numbers for the US services sector. In addition, the central bank's top official issued a signal that even though the central bank has a tendency to cut the policy interest rate at its next meeting, there is a risk of a US economic recession. It is still at a low level.
The baht strengthened again over the weekend following signs of financial flows to buy Thai bonds by foreign investors. Also, there is additional support as gold prices rise in the global market. Meanwhile, pressure on riskier assets eased slightly. Due to the number of applicants for unemployment benefits in the United States. It got even better. Help ease concerns about US recession risks.
On Friday, August 9, 2024, the baht closed at 35.22 baht per dollar in the domestic market. Compared to 35.36 baht per dollar. Previous Friday (2nd August 2024)
Regarding the investment portfolio position of foreign investors between 5-9 August 2024, they bought a net of 423 million baht of Thai stocks and achieved status on the net inflows side, continuing to enter the Thai bond market to the tune of 34,445 million baht (net purchase of bonds of 34,945 million baht, minus maturing debt instruments). 500 million baht)
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