On Monday, Krungthai XSpring expects the Thai market to rebound along with the regional markets trend, after the U.S. President Donald Trump postponed the attack on Iran’s energy grid, easing tensions in the Middle East.
However, there are volatilities from the oil prices surging back to more than $100 per barrel, leading to lingering concerns over the economy and inflation.
The securities firms set a resistance level for the SET Index at 1,430 points and a support level at 1,390 points for today’s session.
Kingsford Securities set a resistance level for the SET Index at 1,410 – 1,420 points and a support level at 1,390 points for today’s session, forecasting the Thai market to potentially rebound after there are signs of a ceasefire talk between the U.S. and Iran, while the oil prices have begun to subside.
The brokerage house recommends investors accumulate stocks with the value theme such as ADVANC, TRUE, SCB, KTB, GULF, CPF, and CPAXT, as well as speculate on THAI, AAV, BA, GPSC, and BGRIM, due to declining oil prices.
Yesterday, Thailand’s SET Index closed at 1,397.34 points, decreased 35.65 points or 2.49%, with a trading value of THB 61.49 billion.
