On Thursday, Asia Plus Securities expects the Thai market to trade sideways as market participants await new catalysts. However, there are potential tailwinds from buying forces as investors speculate on listed companies’ 2Q26 earnings results, especially in the banking sector.
Nevertheless, there are also potential selling pressures from oil-linked stocks—following a continued decline in oil prices, as well as tech stocks that were affected by tech selloffs in the U.S. market.
The securities firm set a resistance level for the SET Index at 1,595 – 1,600 points, and a support level at 1,570 – 1,575 points for today’s session.
Daol Securities stated that the SET Index may potentially move sideways within range, as investors await key economic data.
Additionally, negative overseas factors have begun to subside, especially as the Middle East peace talk may potentially ease oil-related inflationary pressures. Nevertheless, the Thai bourse was still pressured by foreign fund outflows from Asian markets, partly due to escalating tech selloffs.
On the other hand, the Federal Reserve governor has raised concerns over declining inflation, which is considered a positive news for the market.
Yesterday, Thailand’s SET Index closed at 1,588.23 points, decreased 3.01 points or 0.19%, with a trading value of THB 64.07 billion.
