Summary of movements in the Thai stock market
Although the Thai stock market index was moving within a narrow range But it continued to shrink from last week.
Overall, Thai stocks fluctuate within a narrow range but lean towards the downside. In addition to the lack of new factors to support There is still pressure due to the World Bank’s downward revision of Thailand’s GDP forecast for 2024, as well as the Fed’s tendency to maintain the policy interest rate at a high level for a long time. After the economic data of the United States It came out quite well. These negative factors triggered stock selling in many groups. Led by the Technology and Finance Bank Group
However, Thai stocks recovered slightly at the end of the week. (Although most stock markets in the region have fallen) with strong purchases of bank stocks. Building materials and energy come to support it. By the way, this week energy stocks rose, contrary to the general market. Benefiting from the increase in oil prices in the world market amid concerns about the tense situation in the Middle East.
On Friday, April 5, 2024, the SET Index closed at 1,375.58 points, down 0.17% from the level at the end of last week. Meanwhile, the average daily trading value was 33,040.65 million baht, down 5.15% from the previous week, The index fell by 4.12% to close at 394.75 points.
Next week (8-12 April) Kasikorn Securities Company Limited sees the Thai stock index next week as having support levels at 1,365 and 1,350 points, while resistance levels are at 1,385 and 1,400 points. In order, the Kasikorn Research Center assesses important factors that need to be followed, including MPC meetings. (April 10) Statements by Fed officials and instructions for foreign capital.
Important US economic data includes the Consumer Price Index. March Producer Price Index Feed meeting minutes Including the number of people applying for weekly unemployment benefits. Meanwhile, other overseas economic factors include the ECB meeting, Japan’s February industrial production figures. as well as economic data for March from China, such as the Consumer Price Index Producer Price Index and export figures
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