On Thursday, TISCO Securities expects the Thai market to move sideways as RSI indicates that the market has entered overbought territory, resulting in a decline.
For today, the analyst recommends investors closely monitor the fund inflows toward laggard sectors such as tourism, transport, and power plants, which benefited from the declining oil prices and the progress in the U.S.-Iran trade talk. Meanwhile, the electronics sector has begun to stabilize.
Domestically, the analyst urges caution on investment, as tomorrow’s MSCI Index review may potentially lead to outflows of around THB 6 – 7 billion.
The securities firm set a resistance level for the SET Index at 1,590 – 1,600 points and a support level at 1,560 – 1,550 points for today’s session.
Daol Securities estimated that the SET Index will move sideways within a narrower range, as Trump has begun to stall the negotiation, while market participants are monitoring the signing of ceasefire MoU between the U.S. and Iran.
The global rally in the technology sector has bolstered the overall market sentiment. Additionally, the prospect of the THB 400 billion stimulus fund, which anticipated to support the Thai economy, also buoyed the sentiment.
Yesterday, Thailand’s SET Index closed at 1,570.95 points, increased 17.59 points or 1.13%, with a trading value of THB 70.31 billion.
