On Thursday, Asia Plus Securities expects the Thai market to trade sideways regardless of the Federal Reserve’s expected 0.25 percentage point rate cut, while the Fed Chair Jerome Powell signaled that the bank is unlikely to pursue aggressive rate cuts due to trade war uncertainty and risk of accelerated inflation. This causes the bond yield to surge and could pressure the equities market in the near term.
Furthermore, investors are monitoring domestic political situations.
The firm set a resistance level for the SET Index at 1,315, and a support level at 1,290 points for today’s session.
Yesterday, Thailand’s SET Index closed at 1,306.69 points, decreased 1.50 points or 0.11%, with a trading value of THB 48.09 billion.
