Kasikorn Research Center Company Limited Weekly Money Market and Capital Market Summary (8-12 Nov 2021) Summary of Thai Baht Movements The baht hit the highest level in two months at 32.73 baht per dollar. The baht appreciated most of the week in line with the signs of capital inflows. especially the Thai bond market (Foreign investors bought net Thai bonds about 47.6 billion baht between 8-12 November) coupled with the benefit of selling the dollar. of the exporters following the rise in gold prices in the world market
However, the baht dropped some of its appreciation during the week. because of the dollar It recovered after U.S. inflation (CPI) rose to a 30-year high, prompting investors to weigh on the possibility that the Fed may need to signal more tightening on Friday (Nov 12). .) The baht closed the domestic market at 32.80, compared to 33.32 baht per dollar. On the previous Friday (Nov. 5)
For the next week (Nov 15-19), KASIKORNBANK sees the movement of the baht at 32.50-33.30 baht per dollar. while the Kasikorn Research Center Assessing important factors that must be monitored include: Thailand’s Q3/21 GDP figures, the direction of foreign investors’ funds. and the COVID-19 situation
The key US economic numbers include the New York Fed and Philadelphia Fed manufacturing surveys. November housing market index Retail sales, manufacturing, industrial sectors, price indexes, imports and exports. Information about the start of building a house in Oct. and the number of weekly unemployment benefits claims
In addition, the market is waiting to track the third-quarter GDP of Japan and the Eurozone. as well as economic data for October of China, such as retail sales, house price index industrial production and investment in fixed assets
Summary of the movement of the Thai stock market Thai stocks rose from last week, with the SET index closing at 1,633.94, up 0.47% from the previous week. The average daily trading value was 72,080.92 million baht, down 6.28% from the previous week, while the mai index rose 1.99% to close at 558.09 points. This was supported at the beginning of the week from foreign purchases.
However, SET moved in a narrow range in the midweek due to lack of new support. In addition, the overall foreign stock market direction was pressured by concerns about US inflation. And forecasts about the timing of the Fed’s rate hike This week, tech stocks tumbled on the SET50 and SET100 inclusion criteria, while energy stocks fell in line with global oil prices.
For the next week (Nov 15-19), Kasikorn Securities Co., Ltd. sees the Thai stock index with support at 1,615 and 1,600 points, while resistance at 1,650 and 1,675 points, respectively. that must be monitored include: GDP numbers in Q3/64 of Thailand, the situation of COVID-19 as well as the investment direction of foreign investors The important US economic data are retail sales, industrial production. and information about the start of building a house in October as well as the number of weekly unemployment benefits claims
Other foreign factors include Japan’s 3Q21 GDP figures and the Eurozone. Consumer Price Index Oct. Japan and the Eurozone as well as economic data for October of China, such as retail sales, industrial production and investment in fixed assets
