On Friday, FSS International Investment Advisory Securities expects the Thai market to move sideways or sideways-up after having continuously surged in the previous week. However, the buying force is getting narrower as investors have largely capitalized on the Monetary Policy Committee rate cut.
Domestically, the BOT and Moody’s have reduced Thailand’s economic prospects and seven financial institutions’ credit outlook, reflecting the nation’s future economic risk.
The securities firm recommends investors closely monitoring listed company financial statements and the U.S. employment figure outside of the agriculture sector.
The firm set a resistance level for the SET Index at 1,200 – 1,210 points and a support level at 1,190 points.
On Wednesday, Thailand’s SET Index closed at 1,197.26 points, increased 26.14 points or 2.23% with a trading value of THB 54.36 billion.
