Brokers project neutral-to-negative outlooks for the Thai stock market on Wednesday, as hotter-than-forecast U.S. inflation weighs on risk appetite. Rising bond yields and Federal Reserve rate concerns may potentially pressure emerging-market assets, including Thai stocks.
Kasikorn Securities expects the Thai benchmark to soften in early trade, citing negative sentiment from U.S. inflation data that exceeded expectations. The brokerage said the figures may increase the probability of a Federal Reserve rate rise next year, while the US 10-year bond yield moving close to 5% adds further pressure on risk assets.
Domestically, investors are monitoring the final stage of listed companies’ earnings announcements. The analyst noted that company-specific volatility could increase during this period.
The securities firm set a support level for the SET Index at 1,480 points, and a resistance level at 1,510 points.
Meanwhile, Daol Securities anticipates the Thai bourse to move sideways, pointing to the higher-than-expected U.S. CPI reading. The brokerage said the data raised concerns that the Fed could tighten policy sooner and more aggressively than markets had anticipated, with rising Treasury yields acting as additional drag on riskier investments.
Oil prices remain another factor for the Thai market. Brent crude closed at $91.49 a barrel, down 1.17%, which Daol said continues to weigh on energy names listed on the Thai stock index.
As the Thai benchmark entered a busy period of listed companies’ earnings reports, the analyst noted that trading attention will shift toward speculation on 3Q26 results.
Yesterday, Thailand’s SET Index closed at 1,496.31 points, increasing by 23.24 points or 1.58%, with a trading value of THB 70.81 billion.
