Price indices of major economies, Q3 corporate results to influence SET, baht
KSecurities expects the Stock Exchange of Thailand (SET) to have support at 1,245 and 1,230 points, but expect resistance at 1,275 and 1,300 points.
Key matters to watch include Thailand’s domestic political issues and earnings results of listed companies in the third quarter, the situation after the US presidential election, plus the Covid-19 situation.
Key US economic indicators that need close watching include the October consumer price index (CPI) and producer price index (PPI). Other international factors that warrant close monitoring include the euro zone’s September industrial production and gross domestic product report for the third quarter, China’s October CPI and PPI, plus Japan’s October PPI.
As for the baht, Kasikornbank expects the Thai currency to move within a range of Bt30.40-30.80 to the US dollar.
Key factors to be monitored closely are political uncertainties after the US presidential election, Fed officials’ comments, and the domestic political situation.