On Wednesday, Maybank Securities (Thailand) expects the Thai market to trade sideways within range as the U.S. market slid due to weaker-than-expected service sector, and President Donald Trump threatened to impose semiconductor tariffs as soon as next week, as well as up to a 250% levy on pharmaceutical imports.
The securities firm recommends investors closely monitor Thailand inflation data in July, which is forecasted to be later than expected, paving the way for further rate cuts by the Monetary Policy Committee. The firm also suggests monitoring today’s earnings reports from ADVANC, IRPC, BPCG, and other listed companies.
The firm set a resistance level for the SET Index at 1,255 and a support level at 1,230 points for today’s session.
Yesterday, Thailand’s SET Index closed at 1,246.96 points, increased 17.56 points or 1.43% with a trading value of THB 53.04 billion.
