On Wednesday, TISCO Securities expects the Thai market to move sideways-up, benefiting from the recovery in U.S. tech stocks, as well as the revision of the SET50 and SET100 indices.
Additionally, there are increased fund inflows toward Thai stocks as investors shift to the Defensive and Value themes.
The securities firm set a resistance level for the SET Index at 1,600 – 1,610 points, and a support level at 1,570 – 1,575 points for today’s session.
Daol Securities anticipates the SET Index to move sideways within range, despite facing potential volatility and short-term profit-taking pressures from the SET50 and SET100 review, normalizing multiple stocks’ movements.
However, the Thai bourse still has tailwinds from robust foreign fund inflows and the economic stimulus measures, particularly the extension of the real estate fees discount.
Yesterday, Thailand’s SET Index closed at 1,591.24 points, increased 13.43 points or 0.85%, with a trading value of THB 91.87 billion.
