On Thursday, Krungthai XSpring expects the Thai market to move with volatility after U.S. President Donald Trump confirmed his intention to quickly end the war, but will escalate the attack if Iran continues to block the Strait of Hormuz. This raised concerns over the Middle East situation, causing the Asian markets to plummet, and increasing oil prices.
The securities firms set a resistance level for the SET Index at 1,480 points and a support level at 1,460 points for today’s session.
Kingsford Securities set a resistance level for the SET Index at 1,480 – 1,490 points and a support level at 1,450 – 1,460 points for today’s session, forecasting the Thai market to stabilize after Trump’s speech this morning, which showed no clear sign of the end of the war.
As such, the brokerage house recommends investors accumulate stocks in the retail sector including CPALL, CPAXT, BJC, CBG, and OSP when the SET Index has declined, as these stocks may potentially benefit from the government stimulus measures. The recommendation was also given to stocks with the value theme such as ADVANC, TRUE, GULF, SCB, KTB, CK, STECON, AMATA, and WHA.
Yesterday, Thailand’s SET Index closed at 1,470.99 points, increased 22.85 points or 1.58%, with a trading value of THB 82.87 billion.
