Recap: Global stock markets continued to soar this week, with the Dow Jones index crossing the 25,000-point threshold to a new all-time closing high. Bullish sentiment was supported by a strong US employment rate and the Federal Reserve's upward revision of its forecast for the world's largest economy.
On the domestic front, the Stock Exchange of Thailand (SET) broke a 24-year-old closing record on the first trading day of 2018 at 1,778.53 points, and continued to climb.
The SET index moved in a range of 1,758.07 and 1,803.93 points before closing at 1,795.45, up by 2.4% from the previous week, in heavy trade averaging 88.04 billion baht a day for three operating days.
Institutional investors were net buyers of 7.4 billion baht worth of shares and brokerage firms bought 745.49 million baht. Retail investors were net sellers of 7.74 billion baht and foreign investors sold 409.65 million
Newsmakers: US stock markets reached new highs on Thursday, as the Dow crossed 25,000. The gains extended an eye-popping run for Wall Street, which has surged over the last 12 months amid expansion in the US and global economies. The Dow climbed nearly 25% last year, adding nearly 5,000 points and crossing the 24,000 mark at the end of November.
China will set its economic growth target at "around 6.5%" this year, according to sources familiar with the outcome of a recent high-level planning meeting.
China is issuing long-term visas to lure highly skilled people from abroad to work in the country. The multi-entry visas will be valid for between five and 10 years, according to state media. Technology leaders, entrepreneurs and scientists from in-demand sectors are among those eligible to apply.
The euro zone manufacturing purchasing managers' index in December hit 60.6, its highest level since surveys began in mid-1997, according to figures released on Tuesday. Any figure above 50 indicates expansion.
Rising oil prices and hawkish policy from its central bank are the two biggest risks for India's economy in 2018. The increasing price of oil is "concerning" for India, said Vik Mehrotra, chief executive of the India-focused financial advisory firm Venus Capital. India is among the world's largest oil importers and rising prices could fuel higher inflation.
The Thai and Philippine stock indexes touched record closing highs on Friday, while most Southeast Asian stock markets rose, mirroring increases in Asian peers and in step with stellar gains on Wall Street overnight.
The Securities and Exchange Commission has filed a criminal complaint with the Department of Special Investigation against four former and current executives of KC Property Plc and three associates for misappropriating proceeds from sales of short-term bills of exchange "for their own interest or that of other persons".
SET-listed Pace Development Corporation said its board had approved the allocation of 400 million new ordinary shares to Siam Commercial Bank through a private placement, intending to help improve the company's weak financial liquidity.
Deputy Prime Minister Somkid Jatusripitak is playing down warnings from some foreign research houses that Thailand risks being added to the US Treasury's watch list of potential currency manipulators, saying the government has no immediate plans to step in and curb the stronger baht. The country's massive foreign reserves reflect a trade surplus and capital influx, he said.
Thailand's rice exports are expected to ease this year from an estimated record high of at least 11.2 million tonnes in 2017 because of rising global demand and the competitiveness of the local grain, says the Thai Rice Exporters Association.
The consumer confidence index rose from 78.0 in November to 79.2 in December, hitting a 35-month high, the University of the Thai Chamber of Commerce said on Thursday.
Coming up: China will release foreign currency reserves data for December tomorrow. The EU will release business, economic and consumer confidence indices for December and retail sales for November on Monday. France will also release November retail sales the same day.
On Tuesday, Japan will release consumer confidence for December, with Germany to update trade, current account, industrial production and unemployment figures. The US will release the small business confidence index for December.
On Wednesday, China will release December producer and consumer prices. Estimated GDP figures for December in the UK are due the same day. The US will releasing import and export price indices and wholesale inventory data for December, and weekly oil inventory and production updates.
Stocks to watch: Tisco Securities advises investors to watch stocks with potential to benefit from government economic stimulus policies, such as AOT, BEAUTY, BJC, CENTEL, CPALL, ERW, MINT and ROBINS. Monthly stock recommendations are BANPU, BAY, IRPC, KTB, ROJNA, RS, STA and TPIPP.
KTB Securities (Thailand) recommends buying banking stocks, with KBANK and BBL its top picks. Suggested commodity stocks are PTT and BCPG.
Technical View: KTB Securities (Thailand) sees support at 1,790 points and resistance at 1,830. Kasikorn Securities sees support at 1,775 and resistance at 1,817.
