On Friday, Asia Plus Securities expects the Thai market to move sideways-up due to positive sentiments from both the U.S. and Iran revealing the peace proposal, as well as the declining oil prices.
However, there is a potential volatility from MSCI Index review.
The securities firm set a resistance level for the SET Index at 1,580 points and a support level at 1,560 points for today’s session.
Daol Securities stated that the SET index may potentially trade with volatility, despite the easing tension on the U.S.-Iran ceasefire deal, while the U.S. PCE came out as expected, which stabilized the sentiment.
Domestically, the analyst firm recommends investors closely monitor the MSCI index weighting rebalance on Thai equities, particularly DELTA which is the leading stock in Thai bourse.
The broker also recommends monitoring the progress on the Ministry of Transport’s policies including: the Common Ticket Act, the railway regulations, the transportation cost subsidy, the Landbridge project, and allowing the usage of the State Welfare card for bus fare, as well as the Thai-Vietnam cooperation on security, defense, and green energy.
Yesterday, Thailand’s SET Index closed at 1,568.97 points, decreased 1.98 points or 0.13%, with a trading value of THB 62.57 billion.
