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

[rooster59]

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

By The Nation

 

 

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.

 

 

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

 

Source: https://www.nationthailand.com/business/30376190

 

-- © Copyright The Nation Thailand 2019-09-15

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[RichardColeman]

I no economist, but from watching Sky news everyday for years, it seems that every day your currency gets stronger your shares fall.

[Isaan sailor]

Gotta give the SET some credit.  While western currencies have cratered, (western tourism diminished, exports tanking) the SET hangs tough.  Maybe it's all directed to stay stable...

[fletchsmile]

The words "Business Section and The Nation" really have never gone well together.

 

The Nation has always been abysmal in its reporting of business and finance, with poorly worded articles.

 

So I didn't bother reading the article.

 

Looking at my trading screen now - at almost close of the week. The Nation's abysmal record remains intact.

 

SET got nowhere near 1700 in the week. Instead it has fallen.

 

By "defending levels" - again typical of the Nation's poor English and wording, I assume they mean "support levels".

 

At 1634-ish now SET went thru both "defending levels" of 1640 and 1650. So it seems in selecting K-Research for the week, the Nation has done it again ????

 

 

 

Edited September 20, 2019 by fletchsmile