On Tuesday, Kasikorn Securities expects the Thai market to stabilize after having continuously surged by around 200 points, setting the key resistance level at 1,500 points.
Meanwhile, there are negative factors from the U.S. software stocks, which declined after investors raise concern that AI will cause disruptions in the industry, though impacts on the Thai market may be limited.
The brokerage firm recommends investors closely monitor listed company’s financial reports during the last stretch of the earnings season, and the Monetary Policy Committee’s meeting tomorrow.
The securities firms set a resistance level for the SET Index at 1,505 points and a support level at 1,444 points for today’s session.
Kingsford Securities anticipates the SET Index to stabilize within a support level for the SET Index at 1,460 –1,470 points and a resistance level at 1,490 points, after foreign fund inflows have slowed down. Additionally, the index is reaching its highest valuation with F/PE at 15.7x, while investors are awaiting the formation of the new government.
The analyst house recommends accumulating stocks with the value theme such as ADVANC, GULF, KBANK, SCB, BDMS, and SCCC when the SET Index has subsided.
Yesterday, Thailand’s SET Index closed at 1,480.24 points, increased 0.53 points or 0.04%, with a trading value of THB 85.88 billion.
