2023-10-15 06:15:59
Kasikorn Securities expects stocks next week to fluctuate within a range of 1,420-1,470 points, hoping for 3Q23 results.
Kasikorn Securities Assessing the trend of the stock index next week (16-20 Oct.), there are support levels at 1,440 and 1,420 points, while resistance levels are at 1,460 and 1,470 points, respectively, by Kasikorn Research Center. Evaluate important factors that need to be followed, including the direction of foreign capital. Including the 3rd quarter results of 2023 of Thai companies, especially the bank group.
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Important US economic data includes retail sales, industrial production. Information on starting to build a house September used home sales Including the number of people applying for weekly unemployment benefits. Meanwhile, other foreign factors include September inflation numbers from the Eurozone and Japan. as well as 3Q23 GDP figures, the October LPR interest rate, and September economic data from China, such as retail sales and industrial production.
In the past week (9-12 Oct.), the Thai stock index fell at the end of the week. But was able to close positive for the first time in 6 weeks. Thai stocks dropped at the beginning of the week. This is due to the lack of new factors coming in to support it, along with the market being concerned regarding the unrest in Israel.
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However, Thai stocks later recovered following the direction of foreign stock markets. This is because investors have relieved some of their concerns regarding the direction of US interest rates. After a Fed official expressed his opinion that There may not be a need to increase interest rates once more. Thai stocks have returned to shrink once more. which is contrary to the stock market in the region. This is due to strong sales before entering the long holiday period of the domestic market.
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