Brokers projected neutral outlooks on the Thai stock market on Friday, as a lack of new catalysts keeping the index in a narrow band. Meanwhile geopolitical risks in the Middle East and global tech stock pressure continue to weigh on sentiment, prompting investors to remain cautious ahead of the weekend.
Maybank Securities (Thailand) expects the Thai benchmark index to trade sideways, citing an absence of fresh drivers. Ongoing conflict in the Middle East remains a concern for investors, while sustained selling in the global technology sector could negatively impact Thai electronics companies. Nevertheless, a continued influx of foreign funds is seen as a stabilizing factor for the Thai market.
The securities firm has identified a support level for the SET Index at 1,625 points and a resistance level at 1,645.
Separately, Daol Securities noted that although buying interest in oil and banking sectors offers some relief, volatility is likely to persist. According to their assessment, some market participants may opt to take profits ahead of the holiday period, as uncertainties linger regarding U.S.-Iran tensions in the Middle East. Ongoing global tech sell-offs, attributed to lingering valuation concerns over AI-related stocks, are also influencing market dynamics.
The brokerage firms project the index to move sideways within a tight range, as market participants await further clarity on interest rate direction and geopolitical risks heading into the weekend.
Yesterday, Thailand’s SET Index closed at 1,635.29 points, increased 5.08 points or 0.31%, with a trading value of THB 77.41 billion.
