On Thursday, TISCO Securities expects the Thai market to trade sideways-down, after the negative overseas sentiment from the renewed hostility in the Middle East, with the U.S. attacking Iranian oil tankers, while Iran retaliated with missile strikes, raising uncertainty over the peace talk.
Furthermore, the U.S. is also preparing to impose tariffs on multiple countries, including Thailand.
The securities firm set a resistance level for the SET Index at 1,600 points and a support level at 1,580 and 1,570 points for today’s session.
Daol Securities stated that the Thai market may potentially extend gain, albeit with a slower pace. Key factors for the global markets remain the progress in the U.S.-Iran peace talk, as well as the Federal Reserve interest rate policy following this week’s labor market reports.
The analyst recommends a “Selective Buy” strategy based on daily fund flows.
Last Tuesday, Thailand’s SET Index closed at 1,588.06 points, increased 19.69 points or 1.26%, with a trading value of THB 93.01 billion.
