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15 Dec 2025

Financial Markets

The Baht hit an almost 4-1/2 year high while the SET dropped over-week

คะแนนเฉลี่ย
• The Thai stock market fluctuated downwardly due to concerns over the Thailand-Cambodia border situation, while foreign investors resumed net selling of Thai stocks towards the end of the week. 
        The SET Index declined early in the week amid concerns over rising tensions at the Thailand-Cambodia border, triggering profit-taking led by banking stocks and stocks of a major electronic components manufacturer. The SET Index later rebounded ahead of the domestic market holiday, supported by buying in airport operator stocks before the ex-dividend date (XD) as well as technology stocks. 
        However, the SET Index declined again in line with other regional bourses after the outcome of the Fed meeting came out. Although the Fed cut its policy rate as expected, it did not provide a clear signal of further rate cuts at the next meeting. In addition, the Ministry of Finance’s measures to boost long-term savings (TISA scheme) remained unresolved. Towards the end of the week, the SET Index moved within a narrow range. Despite support from overall gains in regional bourses, news of the dissolution of parliament and lingering tensions at the Thailand-Cambodia border kept investors cautious. 

• On Friday, December 12, 2025, the SET closed at 1,254.10 points, down 1.54% over-week. The average daily trading value was THB32,233.71 million, down 10.33% over-week. The mai closed at 211.65 points, down 2.10% over-week. 
• December 15-19, 2025, KSecurities expects the SET to have support at 1,245 and 1,230 points, but resistance at 1,285 and 1,305 points, respectively. KResearch advises investors to watch key factors, including the BOT’s MPC meeting (December 17), domestic political issues, Thailand-Cambodia border dispute and foreign capital flows. The US economic data that warrant close monitoring include October Retail Sales, November Existing Home Sales, CPI, Non-farm Payrolls and Unemployment Rate, and Weekly Jobless Claims. Other important overseas economic indicators to monitor include the upcoming ECB, BOE and BOJ meetings, December Manufacturing and Services PMI (Flash) of Japan, Eurozone and UK, Eurozone’s November CPI and China’s November economic data such as Industrial Production, Retail Sales and Fixed Asset Investment.

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Financial Markets