Brokers project neutral outlooks for the Thai stock market on Friday, highlighting geopolitical risk, rising oil prices and shifting sentiment toward technology-linked stocks as key drivers. The market focus remains on energy shares, AI supply-chain names and earnings-related trading in the final stretch of the earnings season.
Krungthai XSpring Securities expects the Thai benchmark to move sideways within range, as renewed tension in the Middle East is weighing on risk appetite after the U.S. president indicated that an agreement with Iran was no longer necessary.
Higher crude prices could provide support for Thai energy counters, Krungthai said. At the same time, the broker noted that sentiment toward technology stocks had improved after greater clarity surrounding the resignation of Nvidia’s chief executive.
The securities firm set a support level for the SET Index at 1,480 points, and a resistance level at 1,510 points.
Daol Securities also anticipates the Thai bourse to trade sideways. It said concerns following the departure of Nvidia’s former chief Jensen Huang may trigger volatility across AI-related supply chains, particularly companies tied to Nvidia’s ecosystem.
Daol also highlighted pressure from global bond markets, with the U.S. 10-year Treasury yield rising above 5.05%. Brent crude reached $95.82 a barrel, up 3.3%, after Trump rejected making a deal with Iran.
For the Thai market, Daol said trading is entering the final phase of corporate earnings announcements. The broker expects speculative buying to emerge selectively in response to individual company results.
Yesterday, Thailand’s SET Index closed at 1,499.06 points, decreasing by 3.05 points or 0.20%, with a trading value of THB 61.92 billion.
