On Wednesday, Liberator Securities expects the Thai market to rebase after having plunged below 1,300 points yesterday. This was due to concerns over the prospect of Federal Reserve rate cut in December meeting, which caused the U.S. dollar to strengthen at a rapid pace, and pressuring the Thai market.
However, the securities firm recommends investors closely monitor listed companies’ earnings reports, as positive results might help buoy the Thai market.
The firm set a resistance level for the SET Index at 1,310 points, and a support level at 1,280 points for today’s session.
Yesterday, Thailand’s SET Index closed at 1,298.60 points, decreased 10.26 points or 0.78%, with a trading value of THB 40.71 billion.
