On Thursday, Maybank Securities (Thailand) expects the Thai market to trade sideways-up, in line with Wall Street, following optimism among traders on a potential Fed rate cut in December. Domestically, sentiment is anticipated to be buoyed by the announcement in the Royal Gazette of new share buyback regulations, which allow for greater flexibility in such programs. Additionally, a rebound in oil prices is seen as a supportive factor for the energy sector, which is likely to recover.
The firm set a resistance level for the SET Index at 1,270 points and a support level at 1,255 points for today’s session.
On Wednesday, Thailand’s SET Index closed at 1,261.18 points, decreased 7.60 points or 0.60%, with a trading value of THB 34.97 billion.
