Display mode (Doesn't show in master page preview)

15 Jan 2024

Financial Markets

The Baht weakened in line with the SET


        The Thai stock market dropped almost throughout the week. The SET gradually tumbled from the beginning of the week due to the sell-offs of foreign and domestic institutional investors. The news regarding listed companies’ delays in debentures payments affected trading sentiment, resulting in selling pressure across various sectors. Banking stocks plummeted further, as they were downgraded by a leading US investment banking, securities and investment management firm. However, the SET recovered somewhat at the end of the week, boosted by the purchases of banking stocks ahead of the release of Q42023 financial statements.      
        On Friday, January 12, 2024, the SET closed at 1,413.53 points, down 1.01% over-week. The average daily trading value was THB41,215.73 million, down 11.99% over-week. The mai closed at 420.57 points, up 0.26% over-week.
        January 15-19, 2024, KSecurities expects the SET to have support at 1,400 and 1,390 points, but resistance at 1,435 and 1,455 points, respectively. KResearch views that key matters to watch include foreign fund flows and the listed companies’ performance results for 4Q2023, especially the banking sector. The US economic data that warrant close monitoring include December Retail Sales, Industrial Production, Housing Starts and Existing Home Sales, plus Weekly Jobless Claims. Close attention must also be paid to December CPI of Japan, Eurozone and UK, plus China’s GDP report for 4Q2023 and December economic data such as Industrial Production, Retail Sales and Fixed Asset Investment.

View full article

Financial Markets