On Monday, Krungthai XSpring expects the Thai market to decline along with international markets due to the U.S.-Iran conflict, which escalated into a Middle-Eastern-wide clash, and causing investors to move capitals from risky assets toward safe-haven assets. However, this may become a supporting factor for oil-related stocks, which may potentially buoy the Thai market.
The securities firms set a resistance level for the SET Index at 1,540 points, with a support level at 1,510 points for today’s session.
Daol Securities stated that the SET Index will move with volatilities today due to the Middle-East situation, which if concluded or contained, will become a supporting factor for the market. While the volatility from MSCI rebalance may have subsided, there are still impacting catalysts from listed companies’ earnings reports, which will be wrapped up today, along with the receiving of an ex-dividend (XD) mark in such firms, which may reduce buying force in the market. Additionally, market participants should closely monitor the lawsuit against the Election Commission of Thailand (ECT).
For this week, the brokerage firm estimates the SET Index to move within the range of 1,500-1,560 points.
Last Friday, Thailand’s SET Index closed at 1,528.26 points, decreased 5.38 points or 0.35%, with a trading value of THB 104.31 billion.
