On Thursday, Krungthai XSpring Securities expects the Thai market to move sideways-down due to negative factors from the U.S. higher-than-expected PPI, which may potentially increase inflation. The prospect of surging energy costs also contributed to the downward sentiment, after Iran ramp-up attack on energy infrastructures.
Additionally, while the Federal Reserve maintained the interest rate as anticipated, the sign of a slower cut has raised the bond yield, which also contributed to the downward sentiment in the market.
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.
Yesterday, Thailand’s SET Index closed at 1,440.85 points, increased 6.97 points or 0.49%, with a trading value of THB 56.57 billion.
