On Friday, Tisco Securities expects the Thai market to slump due to overseas downward pressure, as the U.S. economic figure came out strong and caused the bond yield to rise. Additionally, the U.S. upcoming 100% tariff on pharmaceuticals on October 1 has weighed on market sentiment. Furthermore, strong US dollar and weaker baht also pressured fund inflows.
Nevertheless, the Thai market remained buoyed by the prospect of the economic stimulus measures, which are set to be announced next week.
The firm set a resistance level for the SET Index at 1,290 points with the next level at 1,300-1,305 points, and a support level at 1,280 points with the next level at 1,270 points for today’s session.
Yesterday, Thailand’s SET Index closed at 1,288.26 points, increased 9.85 points or 0.77%, with a trading value of THB 35.34 billion.
