On Friday, Maybank Securities expects the Thai market to trade sideways due to lack of supporting factors, as the shutdown of the U.S. government prevents the release of key economic data.
Furthermore, there is downside pressure from diving oil prices due to concerns of OPEC+ increasing production, which weighted down the energy stocks.
However, there could be domestic short-term supporting factors, after the government investment showed some progress from SET unveiling term of reference (TOR) on the Dark Red Line, which bolstered the related stocks.
The firm set a resistance level for the SET Index at 1,300 points, and a support level at 1,280 points for today’s session.
Yesterday, Thailand’s SET Index closed at 1,288.29 points, increased 13.26 points or 1.04%, with a trading value of THB 35.28 billion.
