On Wednesday, FSS International Investment Advisory Securities (FSSIA) expects the Thai market to move sideways-up due to tailwinds from the rebound in U.S. tech stocks.
Domestically, the brokerage firm recommends investors closely monitor the Monetary Policy Committee’s meeting and the Thai economy forecast.
The securities firms set a resistance level for the SET Index at 1,500 – 1,506 points and a support level at 1,470 – 1,468 points for today’s session.
Kingsford Securities anticipates the SET Index to stabilize within a support level of 1,480 points and a resistance level of 1,500 –1,505 points due to support factors from foreign fund inflows from developed markets to emerging markets, as well as prospect of infrastructure investments from the new government.
The analyst house recommends accumulating stocks with the value theme such as ADVANC, TRUE, GULF, STECON, CK, AMATA, and WHA when the SET Index has subsided, as these stocks will benefit from infrastructure investments.
Yesterday, Thailand’s SET Index closed at 1,490.40 points, increased 10.16 points or 0.69%, with a trading value of THB 80.17 billion.
