The baht is the strongest in more than 7 months, while the SET Index has rebounded above 1,700 points.
The baht is the strongest in more than 7 months, while the SET Index has rebounded above 1,700 points.
Summary of the movement of the baht
– The baht hit the highest level in more than 7 months at 32.09 baht per dollar. before reducing some positive periods at the end of the week The baht appreciated most of the week on technical factors after strengthening through several levels of psychological significance. In addition, it continues to benefit from the direction of foreign capital inflows. and selling the dollar expected from exporters linked to the rhythm of the rise in gold prices in the world market However, the baht’s appreciation frame began to narrow at the end of the week in line with the return of net selling of Thai stocks by foreign investors.
– On Friday (18 Feb) the baht closed at 32.16, compared to 32.70 baht per dollar. On the previous Friday (February 11)
For the next week (February 21-25), Kasikorn Bank views the baht movement frame at 31.80-32.70 baht per dollar. Meanwhile, the Kasikorn Research Center has assessed key factors that need to be monitored, including 4Q21 GDP figures and Thailand’s January export data. the direction of foreign capital and the COVID-19 situation while the important US economic numbers are the Consumer Confidence Index for February. new home sales durable purchase orders Sales contracts for homes pending sales personal income/spending and inflation as measured by the PCE/Core PCE Price Indices Jan. 4Q21 GDP figures (prelim.) and weekly unemployment claims. In addition, the market is waiting to monitor the situation in Ukraine. The determination of the LPR loan interest rate of the People’s Bank of China Including preliminary data on the February PMI of the Eurozone, the UK and the US as well.
Summary of the movement of the Thai stock market
– Thai stocks revert to above 1,700 points. The SET index closed at 1713.20 points, an increase of 0.82% from the previous week. The average daily turnover stood at 93,800.75 million baht, down 7.00% from the previous week, while the mai index rose 1.66% to close at 650.37 points.
– Thai stocks rose from the previous week, contrary to the direction of foreign stock markets. Most of them were pressured by tensions between Russia and Ukraine. Factors supporting Thai stocks this week In addition to the net buying power of foreign investors. There are also government measures to support EVs, which will support related stocks to rise. Russia-Ukraine, still uncertain
For the next week (February 21-25), Kasikorn Securities Co., Ltd. sees the SET index having support at 1,700 and 1,690 points, while resistance at 1,725 and 1,740 points, respectively. The Kasikorn Research Center has assessed the key factors that need to be monitored, such as the GDP figure of 4Q21 in Thailand, the situation of COVID-19. Investment direction of foreign investors including the tense situation between Russia and Ukraine. The key US economic data include Feb PMI, 4Q21 GDP, personal income and expenses, the PCE/Core PCE Price Index, and January durable goods orders. Other foreign factors include China’s Feb LPR loan, Japan’s Feb PMI and the Eurozone. and the inflation rate in January of the Eurozone