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Factors Affecting the Thai Stock Market: Foreign and Domestic Influences

Foreign factors affecting the Thai stock market

• 2 Oct. Manufacturing PMI (ISM) Sept. Market expects 47.8 points from the previous 47.6 points.

• 4 Oct. Service sector PMI (ISM) Sept. market expects 53.5 points from the previous 54.5 points and factory orders Aug. market expects +0.2% mm, floor from last month at -2.1%. mm

• 6 Oct. Non-agricultural employment in September in the United States: the market expects 170,000 positions, from 187,000 previously, and the unemployment rate in September: the market expects 3.7% from 3.8%.

• 2 Oct. European unemployment rate, market expects 6.4%, stable.

• 4 Oct. Retail sales in August, market expected -0.5%yy, improved from -1.0%yy previously.

• Look forward to pictures of the bustle of Chinese tourists entering Thailand during Golden Week.

Domestic factors

• 2 Oct. Following up on Digital Wallet policy guidelines, the Prime Minister made an appointment with the BOT governor to discuss, expecting there to be related issues. Expect progress to include stocks in retail, leasing, and digital.

• 5 Oct. Thai inflation in Sept. 23, the market expects it to be 0.88% yy, equal to the previous period. Core inflation There is no forecast. From the original at +0.79%yy

• SET EPS: BB market profit is at 87.7 baht vs. prev. 87.9 baht. Groups that adjusted up were agriculture, hotels, energy. Groups that adjusted down were communications, food and parts, etc.

However, this week the first resistance level is estimated at 1,490 points, the next resistance level is 1,507 points, the first support level is 1,464 points, and the next support level is 1,454 points.

This week’s top stocks : recommend

AOT (TP85.25) : Look forward to positive pictures of tourism recovering during China’s Golden Week.

GULF (TP56) : Stocks reflect negative government policy + hope for the baht to turn in support.

SCB (TP125) : 3Q23 budget speculation grows yy and the Thai economy accelerates from 4Q23.

2023-10-01 18:40:00
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