Brokers project neutral-to-positive outlooks for the Thai stock market on Wednesday, with higher oil prices providing some support to energy-linked shares. Analysts said sentiment remains constrained by continued tension in the Middle East and caution ahead of U.S. inflation data due later this week.
Krungthai XSpring Securities expects the Thai benchmark to trade sideways within range, citing a lack of fresh domestic catalysts. The brokerage said rising crude prices may continue to pressure broader risk appetite, although oil-related stocks could help limit downside for the SET Index.
Investors are expected to monitor the upcoming U.S. August inflation figures for further market direction.
The securities firm set a resistance level for the SET Index at 1,630 points and a support level at 1,600 points.
Daol Securities projected that the Thai bourse will move sideways-up, despite uncertainty caused by the jump in crude oil prices and renewed market concerns over inflation. The broker said energy shares remain a potential stabilizing force for Thai equities.
Daol also noted that strength in the semiconductor index (SOX) could encourage buying interest in domestic electronics stocks.
Yesterday, Thailand’s SET Index closed at 1,621.89 points, increasing by 3.07 points or 0.19%, with a trading value of THB 66.13 billion.
