The Baht hit a new 5-month low before rebounding, while the SET remained fluctuated and dropped over-week

• The Thai stock market fluctuated amid thin transaction volume.

        The SET dropped early in the week before surging until midweek in line with other stock markets. Factors that boosted the market include Thailand’s exports that continued to expand in February and the approval of the fiscal 2024 budget bill, resulting in the purchases of various stocks, particularly electronic manufacturing, finance and real estate stocks.

        However, the SET dropped later following foreign investors’ profit-taking before rebounding somewhat at the end of the week in line with other stock markets. The SET was mainly boosted by energy stocks, which benefited from the rising global oil prices.  

        On Friday, March 29, 2024, the SET closed at 1,377.94 points, down 0.22% over-week. The average daily trading value was THB34,835.00 million, down 23.97% over-week. The mai closed at 411.72 points, down 0.86% over-week.

• April 1-5, 2024, KSecurities expects the SET to have support at 1,370 and 1,360 points, but resistance at 1,385 and 1,400 points, respectively. KResearch views that key matter to watch include Thailand’s March CPI and foreign fund flows. The US economic data that warrant close monitoring include March Manufacturing and Services ISM/PMI, ADP Employment Report, Non-farm Payrolls and Unemployment Rate, plus Weekly Jobless Claims. Close attention must also be paid to March Manufacturing/Services PMI of Japan, China, Eurozone and UK, plus Eurozone’s March CPI (Flash).