BANGKOK, Thailand – Thailand’s stock market is expected to trade within a range of 1,500 to 1,550 points during November 2–6, with investors watching the US midterm elections, corporate earnings and developments in the Middle East.
Kasikorn Securities forecasts support at 1,515 and 1,500 points, with resistance at 1,530 and 1,550 points. Key domestic factors include Thailand’s October Consumer Price Index, third-quarter earnings from listed companies and foreign investment flows.
The US midterm elections on November 3 will be closely watched, alongside developments in the Middle East. Investors will also monitor US manufacturing and services activity, October employment figures, the unemployment rate and weekly jobless claims. Economic indicators from the eurozone, Britain, China and Japan are also due.
The SET Index briefly gained early last week, supported by buying in banking and tourism shares, before falling amid disappointing third-quarter results from major electronics and petrochemical companies. Refinery stocks also came under pressure following concerns about profit margins after the government announced changes to the fuel pricing structure.
Selling intensified towards the end of the week, pushing the index to a five-and-a-half-month low of 1,511.58 points as investors reduced risk ahead of the US election and monitored Middle East developments. On October 30, the SET Index closed at 1,518.59 points, down 2.82% from the previous week. Average daily turnover rose 4.27% to 67.72 billion baht, while the mai Index fell 2.56% to 214.08 points.
