The Baht hit an almost 6-month low while the SET dropped over-week

• Although the SET moved within a narrow range, it dropped over-week.
          Overall, the SET fluctuated downwardly due to the lack of new supporting factors. In addition, the Thai bourse was pressured by the World Bank's decision to downwardly revise its growth forecast for Thailand’s 2024 GDP, and concerns over the fact the Fed may keep interest rates higher for longer after US economic data came out better than expected, leading to sell-offs of shares in several sectors, led by banking, technology and finance.  
          However, the SET rebounded somewhat at the end of the week (contrary to most other stock markets in the region), boosted by the purchases of banking, construction materials and energy stocks. Stocks in the energy sector outperformed those of other sectors, boosted by the rising global oil prices amid concerns over tensions in the Middle East.   
          On Friday, April 5, 2024, the SET closed at 1,375.58 points, down 0.17% over-week. The average daily trading value was THB33,040.65 million, down 5.15% over-week. The mai closed at 394.75 points, down 4.12% over-week. 
• April 8-12, 2024, KSecurities expects the SET to have support at 1,365 and 1,350 points, but resistance at 1,385 and 1,400 points, respectively. KResearch views that key matter to watch include the upcoming MPC meeting (April 10), Fed officials’ remarks and foreign fund flows. The US economic data that warrant close monitoring include March CPI, PPI, FOMC minutes, plus Weekly Jobless Claims. Close attention must also be paid to the upcoming ECB meeting, Japan’s February Industrial Production, plus China’s March economic data such as CPI, PPI and Exports.