Kasikorn Securities assesses Thai stocks this week (6-10 Nov. 2023) to fluctuate between the resistance levels of 1,430 and 1,450 points, keeping an eye on inflation in October and the direction of foreign capital. Company operating results Q3/66
Kasikorn Securities Company Limited assessmentThai stocksThis week (6-10 Nov.) the Thai stock index (SET Index) has support levels at 1,400 and 1,385 points, while resistance levels are at 1,430 and 1,450 points, respectively. The Kasikorn Research Center assesses important factors that need to be followed, including numbers. October inflation in Thailand Direction of foreign capital Including the 3rd quarter results of 2023 of Thai companies.
Important US economic data includes import figures and export figures for September. Including the number of people applying for weekly unemployment benefits. While other foreign factors include the service sector PMI index in October. of Japan and the Eurozone England’s 3Q23 GDP numbers, as well as China’s October economic data, such as the Consumer Price Index. Producer Price Index
Summary of Thai stock market movements 30 Oct. – 3 Nov. ’23
As for the movement of the Thai stock market last week (30 Oct. – 3 Nov. 2023), the Thai stock index returned to stand above 1,400 points again. Thai stocks fluctuated within a narrow range from the beginning to the middle of the week amid selling pressure from foreign investors. Due to the lack of new factors came to support in the period before the results of the Fed meeting In addition, the conflict situation in Israel is still protracted.
However, Thai stocks rebounded during the rest of the week. After the Fed decided to maintain interest rates as the market expected. Ready to send a signal which the market interprets as The Fed may have ended its interest rate hike cycle. As a result, there is a strong repurchase of stocks in every group, led by finance and technology, which has additional support from the 3Q23 results of a large electronics component manufacturer that came out better than the market expected.
On Friday, November 3, the SET Index closed at 1,419.76 points, an increase of 2.27% from the level at the end of the previous week. While the average daily trading value was 40,508.75 million baht, a decrease of 10.39% from the previous week, the mai index increased 1.82% to close at 407.19 points.
As for the investment portfolio status of foreign investors between 30 Oct. – 3 Nov. 2023, foreign investors net sold Thai stocks 3,171 million baht and had net outflows from the Thai bond market of 469 million. Baht (net sales of bonds 464 million baht and expired debt instruments 5 million baht)
2023-11-05 22:05:00
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