On Monday, Tisco Securities expects the Thai market to extend gains due to domestic political factors, after the Royal Gazette published a royal decree announcing the appointment of Anutin Charnvirakul as the 32nd Prime Minister, and news of outsider candidates in the cabinet. This may significantly bolster investors confidence.
However, the Thai market could be pressured by concerns over the U.S. economic recession, after the employment figures came out lower-than-expected, denting the prospect of rate cuts.
The firm set a resistance level for the SET Index at 1,280 – 1,285, with the next resistance level at 1,300, and a support level at 1,230 points for today’s session.
Last Friday, Thailand’s SET Index closed at 1,264.80 points, increased 12.25 points or 0.98% with a trading value of THB 51.65 billion.
