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3 Apr 2023

Financial Markets

The Baht was traded in a narrow range while the SET continued to rise


        The Thai stock market closed over 1,600 points again. The SET rose almost throughout the week in line with other stock markets, boosted by the news regarding the acquisition of Silicon Valley Bank and the MPC’s announcement of its interest rate hike by25 basis point, as expected. However, the SET dropped briefly during the week as Thailand’s February Exports continued to contract, before rising again at the end of the week. The technology sector outperformed other sectors this week, boosted by purchases of stocks of a major electronics producer on speculations about its earnings. Energy stocks were boosted by rising global oil prices.        
        On Friday, March 31, 2023, the SET closed at 1,609.17 points, up 1.09% over-week. The average daily trading value was THB43,880.00 million, down 16.16% over-week. The mai closed at 538.10 points, up 0.66% over-week.
        April 3-7, 2023, KSecurities expects the SET to have support at 1,585 and 1,575 points, but resistance at 1,615 and 1,625 points, respectively. KResearch views that key matters to watch include Thailand’s March Inflation and foreign fund flows. The US economic data that warrant close monitoring include March PMI, ADP Employment Report, Non-farm Payrolls and Unemployment Rate, and weekly jobless claims. Close attention must also be paid to March PMI of Japan, China and Eurozone, and Eurozone’s February PPI.

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Financial Markets