On Thursday, Krungthai XSpring Securities expects the Thai market to trade sideways within range due to a possibility of selling pressures from tech stocks after the U.S. President Donald Trump imposed tariffs on some semiconductor, which caused downward sentiments in the Asia markets along with the U.S. market.
Furthermore, the Thai market still lacks supporting factors.
The securities firm set a resistance level for the SET Index at 1,250 points with the next level at 1,260 points, and a support level at 1,230 points for today’s session.
Daol Securities estimated that the SET Index today may potentially move sideways with supporting factors from fund inflows, which resulted in yesterday’s net purchases valued at over THB 2,376 million, along with the baht appreciation to close at THB31.42/43 per USD. The U.S. tariff trial may cause the Thai market to trade bearish today.
Meanwhile, domestic politics remain the key impacting factors, as politicians intensify their campaigning. The brokerage recommends investors closely monitor each political party’s policy after January 19, though the market is still awaiting further clarity after the election.
Yesterday, Thailand’s SET Index closed at 1,244.30 points, increased 9.00 points or 0.73%, with a trading value of THB 39.17 billion.
