Brokers project neutral outlooks for the Thai stock market on Wednesday, with gains in electronics shares likely to help broader sentiment after strength in U.S. technology stocks.
TISCO Securities expects the Thai benchmark to trade sideways, supported by electronics names tracking the positive tone in U.S. markets. However, pressure from PTT reaching the ex-dividend (XD) date is estimated to weigh on the SET Index by about 3 points.
Fund flows remain a risk, TISCO said, as elevated bond yields could continue to encourage capital outflows.
The securities firm set a support level for the SET Index at 1,570 – 1,575 points, and a resistance level at 1,585 – 1,590 points.
Daol Securities also anticipates the Thai bourse to move sideways, noting that the broader market still lacks fresh supportive drivers.
Buying interest in U.S. technology shares, which helped push the S&P 500 to a record high, is expected to improve investment sentiment and could also provide support for Thai electronics stocks, the analyst noted.
Yesterday, Thailand’s SET Index closed at 1,582.22 points, increasing by 5.77 points or 0.37%, with a trading value of THB 67.38 billion.
