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31 Oct 2022

Financial Markets

The Baht was volatile with a stronger bias, while the SET continued to rise over-week

คะแนนเฉลี่ย

        The Thai stock market rose for third consecutive week. It surged early in the week in line with other regional stock markets, thanks to the news regarding China’s reopening plan and continuous purchases of foreign investors. However, the SET index moved within a narrow range during the rest of the week. Although the Fed raised its rates by 0.75% at the November 1-2 meeting, as market anticipated, it signaled that interest rates may go higher than previously forecast. Energy, banking and finance stocks were biggest gainers this week.    
        On Friday, November 4, 2022, the SET closed at 1,626.32 points, up 1.26% over-week. The average daily trading value was THB61,350.13 million, up 0.25% over-week. The mai closed at 645.20 points, down 0.41% over-week.

        November 7-11, 2022, KSecurities expects the SET to have support at 1,610 and 1,600 points, but resistance at 1,640 and 1,650 points, respectively. KResearch views that key matters to watch include Thailand’s October Inflation, foreign fund flows, and  listed companies’ 3Q22 performance results. The US economic data that warrant close monitoring include October CPI and Weekly Jobless Claims. Close attention must also be paid to Eurozone’s September Retail Sales, Japan’s October PPI, plus China’s October economic data such as CPI, PPI and Exports.

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Financial Markets