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7 Nov 2022

Financial Markets

The Baht strengthened, while the SET rose for the fourth consecutive week

คะแนนเฉลี่ย

        The Thai stock market surged at the end of the week. The SET index rose early in the week as foreign investors continued to purchase Thai stocks and the slowing Thailand’s inflation. Later, the SET dropped on profit-taking after many listed companies reported lower-than-expected performance results in 3Q2022, particularly the energy sector, while some investors were closely monitoring US political issues and economic data. However, the SET rebounded at the end of the week in line with other stock markets after the US reported a lower-than-expected inflation data in October, helping spur expectations that the Fed would raise interest rates at a slower pace at its coming meetings.       
        On Friday, November 11, 2022, the SET closed at 1,637.29 points, up 0.67% over-week. The average daily trading value was THB67,643.34 million, up 10.26% over-week. The mai closed at 625.51 points, down 3.05% over-week.
        November 14-18, 2022, KSecurities expects the SET to have support at 1,620 and 1,610 points, but resistance at 1,650 and 1,670 points, respectively. KResearch views that key matters to watch include foreign fund flows, and the APEC meeting. The US economic data that warrant close monitoring include October PPI, Retail Sales, Industrial Production, Housing Starts and Existing Home Sales, and Weekly Jobless Claims. Close attention must also be paid to Eurozone’s September Industrial Production, Japan’s and Eurozone’s GDP report for 3Q2022, Eurozone’s October Inflation, plus China’s October economic data such as Fixed Asset Investment, Industrial Production and Retail Sales.

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Financial Markets