Kasikorn Bank reviews Thai stocks on a weekly basis, hoping to hit 1,700 points

Kasikorn Securities has been eyeing Thai stocks for a week, hoping to hit 1,700 points, watch out for inflation direction of foreign capital plan for Chinese tourists

Kasikorn Securities Co., Ltd. examines the movement of Thailand stock index between January 2 and 6, 2023, noting support levels of 1,650 and 1,635 points, while resistance is 1,680 and 1,700 points respectively since Friday (December 30) The SET index closed at 1,668.66 points, an increase of 3.16%, while the mai index closed at 584.16 points, considering important factors to monitor, including December inflation. 65 of Thailand Foreign Capital Directorate The COVID situation in China, including plans to receive Chinese tourists

Looking at the big picture in 2022, the SET index rose 0.67% to close the end of 2022 at 1,668.66 points from 1,657.62 points at the end of 2021, with Thai stocks swinging lower in the first half of the year. There is a downside to the Fed’s tightening of monetary policy. Russo-Ukrainian War Omicron subspecies outbreak as well as lockdowns in many Chinese cities.

However, Thai equities have gradually recovered since mid-July. There are positive factors from the performance of the Thai economy which is gradually recovering. A slowdown signaled the Fed’s rate hike after US inflation collapsed, and further support came towards the end of the year from news of China’s preparations for opening up.