Brokers project a neutral-to-positive outlook for the Thai stock market on Thursday, pointing to steadier U.S. bond yields, a softer dollar and returning foreign fund flows. The market is also being watched for stock-specific moves tied to earnings announcements.
Tisco Securities expects the Thai benchmark to potentially rebound after U.S. Treasury yields began stabilizing near 5.1%, while the US Dollar Index has weakened continuously since the start of the week.
Fund flows also turned positive on the previous trading day, helping the index hold up despite earlier pressure from a sharp drop in DELTA. Buying interest in other sectors also helped offset that weakness, the analyst added.
The securities firm set a support level for the SET Index at 1,532 points, and a resistance level at 1,580 points.
Daol Securities anticipates the Thai bourse to move sideways-up after a sizable decline, particularly in the electronics sector. The analyst said improved global sentiment toward technology stocks could encourage bargain hunting in related Thai names.
Daol also expects trading conditions to reflect sector rotation, with investors focusing on earnings-driven opportunities.
Yesterday, Thailand’s SET Index closed at 1,556.09 points, increasing by 1.15 points or 0.07%, with a trading value of THB 68.73 billion.
