Brokers project positive outlooks for the Thai stock market on Thursday, after the Federal Reserve raised policy rates in line with expectations.
Kasikorn Securities expects the Thai benchmark to stage a near-term rebound after the Fed meeting outcome. The brokerage noted that the Fed still delivered a hawkish signal, including the possibility of another rate increase in December.
Nevertheless, market sentiment remains constrained by a stronger dollar and high bond yields, although easing oil prices may reduce some pressure.
The securities firm set a support level for the SET Index at 1,560 points, and a resistance level at 1,575 points.
Daol Securities anticipates the Thai bourse to move sideways-up after the Fed delivered rates hike as expected, although questions remain over the Fed’s policy messaging in the period ahead, but the latest dot plot showed fewer rate increases through the end of 2027 than the market had anticipated.
Daol said that factor should help ease an investment overhang and support the broader trading atmosphere.
Yesterday, Thailand’s SET Index closed at 1,562.73 points, decreasing by 15.93 points or 1.01%, with a trading value of THB 75.54 billion.
