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Weekly summary of money market conditions, capital markets, 29 November – 3 December 2021

The baht continued to weaken, closing the market at 33.87, while Thai stocks tumbled amid concerns over the “Omicron” strain of coronavirus.

Summary of the movement of the baht

The baht continued to depreciate. The baht weakened in line with foreign investors’ net sell positions in bonds and Thai stocks at the beginning of the week amid concerns over the COVID-19 situation. After the omikron mutant began to spread in many countries. while the dollar Positive factors from better-than-expected private employment data and the ISM manufacturing index in the US, which boosted the possibility of the Fed accelerating the QE cut, and could be followed by more tightening signals. After the chairman of the Fed revealed that US inflation There is a higher risk of staying stable for longer than previously estimated.

– On Friday (December 3), the baht closed at 33.87 after falling intraday to 33.99, the level it hit on Oct. 6 and was the weakest ever. since July 2017 compared to 33.60 baht per US dollar On the previous Friday (26 Nov)

For the next week (6-10 Dec) KASIKORNBANK sees the movement of the baht at 33.50-34.30 baht per dollar. Meanwhile, the Kasikorn Research Center assesses important factors that need to be monitored, namely, the direction of foreign investors’ funds. and the COVID-19 situation The key US economic numbers include job openings and labor turnover rates for October. Consumer Price Index Nov. Consumer Confidence Index Dec. (preliminary) and the number of weekly unemployment benefits claims In addition, the market is waiting to follow the GDP of the Eurozone and Japan in the third quarter. including economic data for the month of November of China, such as export numbers Consumer Price Index and Producer Price Index as well.

Summary of the movement of the Thai stock market

Thai stocks have fallen in the past week. The SET index closed at 1,588.19 points, down 1.39% from the previous week. The average daily trading value was 98,285.53 million baht, up 5.03% from the previous week, while the mai index fell 0.88% to close at 560.13 points.

– Thai stocks have fallen sharply since the beginning of the week amid concerns over the Omicron strain of coronavirus and the effectiveness of the vaccine against the strain. In addition, there was strong sell-off in Thai stocks during the MSCI index reweighting (effective Nov 30). However, SET recovered partially in the middle of the week, in line with strong international stocks. driven by purchasing pressure based on technical factors before being stabilized in a narrow frame for the rest of the week. While waiting to assess the situation of Omicron covids

For the next week (Dec. 6-10), Kasikorn Securities Co., Ltd. sees the SET index having support at 1,575 and 1,565 points, while resistance at 1,600 and 1,610 points, respectively. The Kasikorn Research Center assesses the key factors that need to be monitored, namely the situation of COVID-19. both at home and abroad Investment direction of foreign investors The important US economic data is import and export data for October. including the consumer price index in November Other foreign factors include Japan’s 3Q21 GDP figures and the Eurozone. including economic data for the month of November of China, such as the producer and consumer price index import and export data

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