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Export data could sway Thai bourse

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The Stock Exchange of Thailand (SET) Index closed at 1,389.34 last week, up 3.18 per cent from the previous week, while average daily transaction was 81.68 billion baht ($2.70 billion), down 25.88 per cent from the previous week. AFP

Export data could sway Thai bourse

Kasikorn Securities has advised investors to follow Thailand’s export data from last month, the Covid-19 outbreak and the political situation in Thailand and US as factors that would affect the Stock Exchange of Thailand (SET) Index this week.

An analyst at Kasikorn Securities predicted the SET Index’s support line at between 1,375 and 1,360, and resistance line at between 1,400 and 1,420.

Among international economic data, he advised following the US third-quarter gross domestic product (GDP), the minutes of the US Federal Reserve, the US new homes and durable goods sales, US personal income and spending in October, US and the eurozone composite purchase managers index this month and China’s industrial profit last month.

The SET Index closed at 1,389.34 last week, up 3.18 per cent from the previous week, while average daily transaction was 81.68 billion baht ($2.70 billion), down 25.88 per cent from the previous week.

The Market for Alternative Investment rose by 1.48 per cent, closing at 320.99.

Thai stock indices closed in positive territory over an improvement in the country’s third-quarter GDP, positive news in the development of a Covid-19 vaccine, S&P Global Ratings’ move to maintain the country’s credibility, Bank of Thailand’s lenient currency supervision measures, and foreign investors’ mass buy-ups of Thai stocks.

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