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11 Nov 2024

Financial Markets

The Baht fell while the SET dropped in response to the US presidential election results

คะแนนเฉลี่ย
  • The SET faced foreign investors’ sell-offs and gradually dropped in response to the US presidential election results.
        The SET initially moved within a narrow range before surging in line with other stock markets ahead of the US presidential election. In addition, energy stocks rose along with the rising global oil prices after the OPEC agreed to delay a planned oil output increase by one month, while technology stocks, especially those in the electronics component manufacturing sector, also rose due to their specific issues.
        However, the SET dropped amid foreign investors’ sell-offs as Donald Trump’s win in the US presidential election has raised concerns about a renewed trade war. The Thai bourse remained in a bearish state until the end of the week, facing profit-taking in stocks of a major electronics producer after a recent strong surge.
  • On Friday, November 8, 2024, the SET closed at 1,464.69 points, up 0.04% over-week. The average daily trading value was THB45,966.66 million, up 13.71% over-week. The mai closed at 335.71 points, down 0.74% over-week.
  • November 11-15, 2024, KSecurities expects the SET to have support at 1,445 and 1,435 points, but resistance at 1,475 and 1,485 points, respectively. KResearch advises investors to watch key factors, including Fed officials’ remarks, Thai listed companies’ performance results for 3Q-2024 and foreign fund flows. The US economic data that warrant close monitoring include October CPI, PPI, Retail Sales, Industrial Production, plus Weekly Jobless Claims. Close attention must also be paid to the GDP report for 3Q-2024 of Eurozone, UK and Japan, plus China’s October economic data such as Retail Sales, Fixed Asset Investment and Industrial Production.

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