Brokers project neutral outlooks for the Thai stock market on Wednesday, with electronics shares likely to face pressure from weak global sentiment toward semiconductor stocks. Investors are also awaiting U.S. inflation data and upcoming earnings from listed companies.
Maybank Securities (Thailand) expects the Thai benchmark to move with volatility, with major pressure from potential weakness in the electronic sector following a downtrend in global memory chip shares.
However, easing concerns over the Federal Reserve accelerated rate hike may potentially provide some support to market sentiment.
Additionally, the brokerage firm recommends investors closely monitor U.S. inflation figures, slated to come out tonight, as well as listed companies’ earnings reports.
The securities firm set a support level for the SET Index at 1,560 points, and a resistance level at 1,580 points.
Daol Securities anticipates the Thai bourse to move sideways, with weakness in global chip-related stocks remains a key drag, particularly for Thailand’s electronics sector.
Still, selective speculative buying could emerge ahead of corporate earnings announcements, especially in banking stocks, the brokerage noted.
The analyst added that investors are monitoring the U.S. consumer price index report due tonight for further market direction.
Last Monday, Thailand’s SET Index closed at 1,571.74 points, decreasing by 5.91 points or 0.37%, with a trading value of THB 55.93 billion.
