On Tuesday, Maybank Securities (Thailand) expects the Thai market to trade sideways as there are no new factors that could impact the SET index.
Internationally, after Moody’s slashed the U.S. credit rating down, Wall Street sat on a slight positive, which could ease investors concerns on global sentiment in the near term.
Domestically, the Economic Stimulus Measure Committee meeting has resulted in postponing the THB 10,000 Digital Wallet cash handout program, and opting to invest in other sectors instead.
The securities firm suggests investors should closely monitor the committee’s future investment details. Meanwhile, the cabinet is expected to meet today.
The firm set a resistance level for the SET Index at 1,200 points and a support level at 1,180 points.
Yesterday, Thailand’s SET Index closed at 1,187.06 points, decreased 8.71 points or 0.73% with a trading value of THB 36.74 billion.
