Brokers project neutral outlooks for the Thai stock market on Monday, as market participants turn cautious due to slowing foreign fund inflows and persistent concerns over inflation and elevated oil prices. Attention is focused on domestic economic data, particularly the release of Thailand’s second-quarter GDP, which could shape short-term market sentiment.
TISCO Securities expects the Thai benchmark to consolidate, as international investors’ appetite appears to be moderating. Elevated crude oil prices driven by ongoing geopolitical tensions in several regions are adding to inflation worries, further restraining risk appetite.
Domestically, traders are looking ahead to the country’s second-quarter GDP figures scheduled for release.
The securities firm set a support level for the SET at 1,600 points and a resistance level at 1,630 points.
Daol Securities anticipates the Thai bourse to move sideways within a range of 1580 – 1630 points, as investors’ attention turns toward Thailand’s GDP release. The announcement is expected to signal whether the Thai economy is genuinely recovering or if recent optimism has outpaced the actual data.
Market consensus forecasts year-on-year growth at 1.7%. A reading above expectations could improve the investment climate for Thai equities, while a weaker-than-forecast result may prompt profit-taking, particularly among shares sensitive to economic cycles.
Last Friday, Thailand’s SET Index closed at 1,609.06 points, decreased 5.30 points or 0.33%, with a trading value of THB 81.75 billion.
