INVX Databook

Tags: databook, monthly

March 2023	A look back at Feb and ahead to Mar - The SET is expected to recover in Mar after declining throughout February, eroded by worries about the Fed’s rate hikes. On the plus side is the upcoming general election scheduled to take place on May 7. Past data shows the SET usually climbs a few months before the election. We assign resistance at 1,660-1,680 and support at 1,600-1,620.
February 2023	A look back at Jan and ahead to Feb - The SET in Feb is expected to consolidate after a surge since end-Dec in response to China’s reopening and the Fed’s signal of decelerating rate hikes. There seems no new support in Feb but concerns over economic slowdown pressured by rate hikes are growing. Sell-on-fact during earnings season will sour the market as well. We assign the resistance bound at 1,690-17,00 and support bound at 1,650-1,660.
January 2023	A look back at Dec and ahead to Jan - In January, the SET will continue to face risk from tightening monetary policy by key central banks that will pressure the global economy. We believe the market will be able to stand at supports of 1,650 and 1,630, undergirded by China’s reopening that will also boost economic activities in the region. Thai government economic stimulus measures will also give a boost. We assign resistances at 1,680 and 1,700.

INVX