Bangkok: Keep an eye on next week: the baht is expected to fluctuate between 32.20 and 33.00 baht, and Thai stocks are hoping to test 1,555 points.
According to Thai News Agency, the Kasikorn Research Center indicates that next week, the market will be watching Thai export figures, foreign capital flows, US-Iran peace negotiations, and key US economic data. The Thai baht is projected to fluctuate within the range of 32.20-33.00 baht per US dollar. The Thai stock index has a chance to test the resistance level of 1,555 points, supported by technology and energy stocks.
Kasikorn Research Center reported that the Thai baht fluctuated last week, weakening to its lowest level in two weeks at 32.78 baht per US dollar. This was driven by weakening Asian currencies, rising global oil prices due to concerns over the Middle East situation, and a strengthening US dollar following increased US bond yields amid expectations that the Fed might resume interest rate hikes to curb inflation. However, the baht partially recovered following the decline in oil prices after positive signals from US-Iran peace negotiations. As a result, the baht closed at 32.68 baht per US dollar on May 22, 2026, weaker than 32.65 baht per US dollar the previous week. Meanwhile, foreign investors were net sellers of Thai stocks totaling 3,038 million baht, but there was a net inflow of 2,233 million baht into the Thai bond market.
For the week of May 25-29, Kasikorn Bank forecasts the Thai baht to trade within a range of 32.20-33.00 baht per US dollar. Meanwhile, Kasikorn Research Center assesses key factors to monitor including Thailand's April export figures and current account balance, foreign fund flows, and progress on the US-Iran peace deal. Important US economic data to watch includes durable goods orders, new home sales, and the April PCE/Core PCE price index; the May consumer confidence index; the Q1 2026 GDP preliminary report; and weekly jobless claims.
The Thai stock market index (SET Index) rose throughout last week, despite initial selling pressure on electronics stocks and concerns over the Middle East situation. It was supported by better-than-expected Q1 2016 GDP figures for Thailand, leading to buying in banking and industrial estate stocks. From mid to late week, the index continued to climb due to buying in electronics stocks (due to the AI and data center trend), energy stocks benefiting from rising oil prices, and finance stocks following announcements of high dividend yields. Hopes for peace negotiations between the US and Iran also contributed to the gains. As a result, on May 22, 2016, the SET index closed at 1,538.67 points, up 1.36% from the previous week, while average daily trading volume was 56,293 million baht, down 14.08%. The mai index closed at 211.93 points, down 0.54% from the previous week.
For the following week (May 25-29, 2026), Kasikorn Securities Co., Ltd. forecasts that the Thai stock index will have support levels at 1,510 and 1,480 points, while resistance levels are at 1,545 and 1,555 points. Kasikorn Research Center assesses key factors to monitor include Thailand's April export figures, the situation in the Middle East, and foreign capital flows. Important US economic data includes durable goods orders, the PCE/Core PCE price index, and new home sales for April, as well as Q1 2026 GDP figures and weekly jobless claims. Other key international economic factors include China's April industrial profits and Japan's April industrial production.