Summary of movements in the Thai stock market
The Thai stock market fell at the end of the week in line with regional stock markets on concerns that the Federal Reserve will keep interest rates high for an extended period. Thai stocks fell slightly at the start of the week in line with regional stock markets amid signs of investor caution as they wait for February inflation numbers to follow. from the United States
However, Thai stocks returned to the rally mid-week. This was supported by a return to net buying of Thai stocks by foreign investors. Especially in the shares of the Finance Group and the shares of the Energy Group. Which is supported by the rise in oil prices in global markets and Thai stocks fell again at the end of the week following the trend of regional stock markets. Yet the US producer price index for February came in higher than analysts' expectations. This has led to market concern and the Fed is likely to keep interest rates high for a long period.
On Friday, March 15, 2024, the SET index closed at 1,386.04 points, a slight decrease of 0.03% from the level of the end of last week. Meanwhile, the average daily trading value reached 42,227.35 million baht, an increase of 5.16% from the previous week, and the MAI rose 2.10% to close at 418.76 points.
Next week (March 18-22), Kasikorn Securities Limited sees the Thai stock index for next week having support levels at 1,375 and 1,365 points, while resistance levels are at 1,400 and 1,415 points, respectively. Kasikorn Research Center is evaluating the factors . Important things to watch are the Fed meeting (March 19-20) and the trend of foreign capital. Important US economic data includes data on new home construction. February Used Home Sales March Manufacturing and Services PMI (preliminary), including the number of weekly unemployment claims.
Meanwhile, other foreign economic data includes the Bank of Japan meeting, March manufacturing and services PMIs (preliminary) for the Eurozone, England and Japan, as well as the March LPR interest rate setting and this month's economic data. January February. China, such as retail sales and industrial production
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