KASIKORN RESEARCH CENTER COMPANY LIMITED Money market conditions Capital market weekly (7-9 Dec 2020) Summary of movements in the baht The baht gradually appreciates. And entered the test at 30.00 baht per dollar In the middle of the week before the long holiday of the domestic market The appreciation of the baht coincided with the weakness of the dollar. And selling the dollar Of exporters In addition, there is a timing of net buying in the Thai stock market on Tuesday And net buy on the Thai bond market on Wednesday for foreign investors as well. On Wednesday (9 Dec) the baht stood at 30.05, compared with the level of 30.15 baht per dollar. On the previous Friday (Dec. 4)
For the next week (14-18 December), Kasikornbank estimates the Thai baht movement frame at 29.80-30.20 baht per dollar. Meanwhile, the Kasikorn Research Center assesses key factors that need to be monitored, including the BOT’s Thai baht stability stabilization signal. Results of the Fed’s monetary policy meeting (15-16 Dec.) Foreign investors’ investment flows As well as political factors and the situation of COVID-19 in private countries, US economic numbers To follow are the results of the New York Fed’s manufacturing activity survey. Philadelphia Fed Business Trends Survey Dec. Retail sales data Industrial production And the number of starting houses in November In addition, the market awaits to follow up on the results of the BOJ and BOE meeting, the BREXIT agreement negotiation, November economic data. China, including the preliminary PMI for December. Of the US, Eurozone and England as well
Summary of the movement of the Thai stock market Thai stocks hit their highest in more than nine months above the 1,500 line before returning to close at 1,482.67 points, up 2.27% from the previous week. The average daily trading value was 123,429.61 million baht, up 39.46% from the previous week. The mai index fell 1.02% to close at 327.81 points. Thai stocks gained over the week, supported by positive news reports about Development of a vaccine against COVID-19 Which boosted expectations about the economic recovery In addition, there was a boost in banking and technology stocks.
In addition, Thai stocks are also positive on foreign investors’ net buying pressure, however, the upside of Thai stocks has been limited in the middle of the week amid cautious signs ahead of the long holiday. And investors are still waiting to assess the risk factors Especially the COVID-19 situation In the country closely
For the next week (Dec 14-18), Kasikorn Securities Co., Ltd. sees the Thai stock index have support at 1,470 and 1,455 points, while resistance is at 1,500 and 1,530, respectively, with the Kasikorn Research Center assessing key factors. To be monitored include the situation of COVID-19. Both at home and abroad Thai political issues Federal Reserve Monetary Policy Meeting (15-16 Dec) signals US-China tensions As well as Brexit issues
The key US economic data includes home start data and November retail sales. Including the December PMI Composite (preliminary), while other important economic data are the December PMI Composite (preliminary) of Japan and the Eurozone. As well as economic data in November Of china
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