Kasikorn Bank looks at Thai stocks weekly, hoping to hit 1,700 points

Kasikorn Securities looks at Thai stocks for a week, hoping to touch 1,700 points, keep an eye on inflation direction of foreign capital plan for Chinese tourists

Kasikorn Securities Co., Ltd. looks at the movement of the Thai stock index between 2-6 January 2023 that there are support levels of 1,650 and 1,635 points, while resistance is 1,680 and 1,700 points respectively from Friday (30 December) The SET index closed at 1,668.66 points, an increase of 3.16%, while the mai index closed at 584.16 points, assessing important factors to monitor, including inflation in December. 65 of Thailand Foreign capital direction The COVID situation in China, including plans to receive Chinese tourists

As for the overall picture in 2022, the SET Index rose 0.67% to close at the end of 2022 at 1,668.66 points from 1,657.62 points at the end of 2021, with Thai stocks swinging downward in the first half of the year. There is a negative factor from the Fed’s tightening of monetary policy. Russo-Ukrainian War Outbreak of omikron subspecies as well as lockdowns in many Chinese cities.

However, Thai stocks gradually recovered since mid-July. There are positive factors from the trend of the Thai economy that gradually recovers. A slowdown signaled the Fed’s rate hike after US inflation slowed and additional support came late in the year from news of China’s preparations to open up the country.