Brokers project neutral outlooks for the Thai stock market on Monday, as investors continue to monitor domestic political development, global geopolitical situation, as well as key economic indicators from the U.S.
TISCO Securities expects the Thai benchmark to trade sideways, with domestic flooding likely to pressure sentiment in early trade, although the impact on market should remain limited.
However, the brokerage said that if the Constitutional Court’s verdict on the election ballot barcode case came out positive, the Thai market may potentially recover in the afternoon session.
The securities firm set a support level for the SET Index at 1,600 points, followed by 1,590 points, and a resistance level at 1,613 points and then 1,620 points.
Daol Securities expects the Thai bourse to trade within a weekly range of 1,580 to 1,620 points. The analyst said investors are monitoring U.S. economic signals, including remarks from Federal Open Market Committee members, the PCE Price Index, and U.S. labor data to gauge the direction of monetary policy.
Domestic political and legal developments are also in focus. The Constitutional Court’s ruling on the election barcode case could affect investor confidence, while foreign fund flows remain another factor being watched by market participants.
Daol also cited the Iran conflict as part of the broader risk backdrop for investors this week.
Last Friday, Thailand’s SET Index closed at 1,607.63 points, increasing by 5.05 points or 0.32%, with a trading value of THB 57.36 billion.
