The Baht extended its gains while the SET rose on domestic institutional investors’ purchases

• The Thai stock market surged on year-end purchases of tax savings funds and news regarding the visit of an executive of US tech company to Thailand.

        The SET surged early in the week on the back of domestic institutional investors’ purchases, mainly from year-end purchases of tax savings funds, particularly in banking, technology and retail stocks. In addition, the SET was boosted by the news regarding the visit of the CEO of a major US tech company to Thailand. Such news stimulated the buying of stocks set to benefit from the investment of such company, led by technology and energy stocks.
        Later, the SET’s gains were capped as investors became more cautious about their investment due to the public holiday during the week while waiting for US labor market data to be released at the end of the week.

• On Friday, December 6, 2024, the SET closed at 1,451.96 points, up 1.71% over-week. The average daily trading value was THB40,930.23 million, up 2.18% over-week. The mai closed at 321.60 points, up 0.28% over-week.
• December 9-13, 2024, KSecurities expects the SET to have support at 1,440 and 1,430 points, but resistance at 1,465 and 1,475 points, respectively. KResearch advises investors to watch foreign fund flows. The US economic data that warrant close monitoring include November CPI and PPI, plus Weekly Jobless Claims. Close attention must also be paid to the upcoming ECB meeting, Japan’s and Eurozone’s October Industrial Production, Japan’s GDP report for 3Q-2024 and November PPI, plus China’s November economic data such as CPI, PPI and Export data.