The Thai stock market closed above 1,400 points again. The SET surged from the beginning of the week on continued support from the Fed’s signals an end to its rate hike cycle and the possibility of rate cuts next year. The SET was also boosted by purchases of large-cap technology stocks (after the release of the list of securities included in SET50 and SET100) and institutional investors’ net buying orders. However, the SET moved within a narrow range at the end of the week after having responded to positive factors. Nonetheless, energy stocks dropped in contrast to stocks of other sectors this week, mainly due to the concerns over the impacts of the adjustment of natural gas price structure.
On Friday, December 22, 2023, the SET closed at 1,405.09 points, up 1.01% over-week. The average daily trading value was THB35,881.28 million, down 18.16% over-week. The mai closed at 409.10 points, up 3.34% over-week.
December 25-28, 2023, KSecurities expects the SET to have support at 1,390 and 1,370 points, but resistance at 1,430 and 1,450 points, respectively. KResearch views that key matters to watch include foreign fund flows, year-end Window Dressing, and Red Sea situation. The US economic data that warrant close monitoring include October House Price Index, November Pending Home Sales, plus Weekly Jobless Claims. Close attention must also be paid to China’s November Industrial Profits, and Japan’s November Retail Sales and Industrial Production.
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