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18 Sep 2023

Financial Markets

The Baht hit an over 9-month low while the SET continued to drop over-week


        The Thai stock fluctuated throughout the week. The SET fluctuated downwardly early to midweek amid institutional investors’ sell-offs, particularly energy stocks due to  concerns about the impacts of government policies. However, the SET rose briefly during the week, especially technology stocks following the rise of US technology stocks and expectations that the Fed would hold interest rates steady at its upcoming meeting. The SET dropped again at the end of the week due to the lack of new factors.         
        On Friday, September 15, 2023, the SET closed at 1,542.03 points, down 0.33% over-week. The average daily trading value was THB43,912.05 million, down 0.76% over-week. The mai closed at 475.30 points, down 1.12% over-week.
        September 18-22, 2023, KSecurities expects the SET to have support at 1,530 and 1,510 points, but resistance at 1,555 and 1,565 points, respectively. KResearch views that key matters to watch include the upcoming FOMC meeting (September 19-20) and foreign fund flows. The US economic data that warrant close monitoring include August Housing Starts, New Home Sales, September PMI (Flash), plus Weekly Jobless Claims. Close attention must also be paid to the upcoming BOE and BOJ meetings, Eurozone’s and Japan’s August CPI and September PMI (Flash), plus China’s September LPR.  

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Financial Markets