On Monday, Krungthai XSpring Securities expects the Thai market to move sideways within range as the market is rebasing after having sharply surged last week, while some Asian markets were closed for the Lunar New Year festival. Additionally, investors are awaiting clarity on the formation of the new government.
The brokerage firm recommends investors closely monitor Thailand’s GDP report today.
The securities firms set a resistance level for the SET Index at 1,450 points and a support level at 1,410 points for today’s session.
Kingsford Securities set a support level for the SET Index at 1,410 –1,420 and a resistance level at 1,450, forecasting the Thai market to rise from continued foreign fund inflows, as most Thai equities are under the Value Stock category, as well as trading with an attractive P/E ratio.
The securities house recommends accumulating GULF, ADVANC, TRUE, AMATA, and WHA on dip, as these stocks are expected to benefit from data center investments. Tourism stocks, including AOT, CENTEL, ERW, and AWC, are also in focus amid anticipation for a surge of Chinese tourists during the Lunar New Year.
Last Friday, Thailand’s SET Index closed at 1,430.41 points, decreased 11.12 points or 0.77%, with a trading value of THB 66.14 billion.
