On Thursday, Tisco Securities expects the Thai market to trade sideways within a narrow range, regardless of the Federal Reserve’s expected 0.25 percentage point rate cut. It was due to Fed Chair Jerome Powell not indicating a clear policy direction for the December meeting, causing the U.S. bond yield to surge and strengthen the dollar.
Meanwhile, the Thai market is facing selling pressures from both foreign investors and funds disposing of their stocks ahead of the earnings season.
The firm set a resistance level for the SET Index at 1,325 points, and a support level at 1,310-1,300 points for today’s session.
Yesterday, Thailand’s SET Index closed at 1,315.64 points, increased 1.36 points or 0.10%, with a trading value of THB 33.46 billion.
