HoonSmart.com >> Kasikorn Securities expects stocks in the coming week Index swings in the range of 1,590-1,650 points, keeping an eye on the Fed’s decision to reduce the QE. OPEC meeting pointed to the direction of crude oil prices Opening the country for tourists, profits from companies and foreign investments Thai baht Kasikorn Bank is expected to move in the range of 32.70-33.70 baht per dollar.
KASIKORN SECURITIES STOCKS next week (1-5 Nov) said the stock index had support at 1,600 and 1,590 points, while resistance at 1,635 and 1,650 points, respectively.
KASIKORNBANK Research Center has assessed key factors that need to be monitored, such as the country’s opening to foreign tourists (1 Nov), the Fed meeting (2-3 Nov), the OPEC+ meeting (4 Nov), the Covid situation. foreign investment direction Including the results of the 3rd quarter of 2021 of Co., Ltd.
The key US economic data is the manufacturing and services PMI index. Non-farm payrolls and the unemployment rate in October while other foreign factors include the PMI index of the manufacturing and service sectors in October. Japan, Eurozone and China as well as retail sales Eurozone Producer Price Index September
Shares fell sharply from last week, with the SET index closing at 1,623.43 points, down 1.22%, while the average daily trading value was 70,950.70 million baht, down 10.19%. The mai index fell 0.18% to close at 558.65 points.
At the beginning of the week, stocks fell sharply in line with regional stock markets. In addition, there are reports that the Delta subspecies of COVID has been found in Thailand. This included selling pressure among domestic and foreign institutional investors. Thai stocks recovered briefly before falling again since midweek. because there are no new supporting factors coming in In addition, there is a strong selling of technology stocks. and the energy/petrochemical group following the declining global oil price trend. as well as selling pressure to reduce the risk of investors before the Fed meeting. which estimates that there may be an announcement of a reduction in the QE limit
As for the baht next week (1-5 Nov), KASIKORNBANK sees a movement frame at 32.70-33.70 baht per US dollar.
Thai baht moves volatility. But there is a direction of appreciation against the dollar. The beginning of the week appreciated in line with foreign investors’ net buy position in Thai bonds. while the dollar Lack of support for US Treasury yields fell below the 1.60% level. However, the baht weakened briefly. Midweek in yuan and Asian currencies amid concerns over fragile signs of Chinese property market. But the baht could turn back to appreciate again at the end of the week. after the dollar Pressured by US GDP data in the third quarter that grew lower than the market expected.
On Friday (Oct 29), the baht closed at 33.20, compared to 33.39 baht per dollar. On the previous Thursday (Oct. 21)