Research house predicts upside for SET Index at 1,700 next week

The Stock Exchange of Thailand Index could move up to nearly 1,700 points next week, the Kasikorn Research Centre has forecast

The research house predicted that on the downside, it could fall further from Friday’s level, with defending lines of 1,650 and 1,640. On the upside swing, it could test barriers at 1,675 or as high as 1,690.

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The SET Index on Friday fell to 1,661.96, down 0.49 per cent from the previous week, as investors sold shares to take profits. The daily average volume was Bt59.85 billion, up 4.68 per cent.

Next week, investors will await the latest developments in the US-China trade war, any movements in Brexit, the meeting of the US Federal Reserve on September 17-18, the meeting of the Bank of Japan, China economic data, fixed capital investment, industrial output and retail sales in August. 

Investors are also eagerly awaiting key economic indicators in the US, including the survey of industrial activities by Fed’s New York branch; business trends of the Fed’s Philadelphia branch; the housing index in September; industrial production, second-home sales, housing starts in August and net capital flows in July, the research house added