On Wednesday, Tisco Securities expects the Thai market to contract due to returning concerns of trade war after U.S. President Donald Trump stated that there will be no further delay on the imposition of Reciprocal Tariffs, slated for July 9.
Meanwhile, the SET Index surged sharply after the suspension of Prime Minister Paetongtarn Shinawatra by the constitutional court on yesterday eased political chaos. However, minor concerns still persist from various ongoing court cases and protestors.
The securities firm recommends investors to closely monitor U.S. employment figures after Federal Reserve Chair Jerome Powell still maintains a cautious stance on rate cuts. Meanwhile, the Congress passed Trump’s tax reform legislation, which may cause a rise in bond yields and raise investors’ concerns on U.S. budget deficit.
The firm set a resistance level for the SET Index at 1,120-1,125 points and a support level at 1,100-1,090 points for today’s session.
Yesterday, Thailand’s SET Index closed at 1,110.01 points, increased 20.45 points or 1.88% with a trading value of THB 41.71 billion.
