On Tuesday, FSS International Investment Advisory Securities (FSSIA) expects the Thai market to rebound in the short term along with the global markets’ trend, as the Israel-Iran ceasefire has temporarily eased tension.
However, the upside remains limited due to the elevated bond yield, and the lack of new supporting factors.
For this week, the brokerage firm recommends investors closely monitor the U.S. CPI and PPI figures from May to gauge the Federal Reserve policy direction.
The securities firm set a resistance level for the SET Index at 1,575 points and a support level at 1,560 points for today’s session.
Daol Securities stated that the SET Index may move sideways with volatility, with potential for a short-term technical rebound after market participants have mostly priced in the negative catalysts, and the Middle East tension has begun to subside following the ceasefire.
Nevertheless, the fund flow direction was pressured by the weakening baht, which fell below THB 32.85 per dollar, and the U.S. stronger-than-expected employment figures, which may lead to the Fed maintaining the interest rate at a high level.
Yesterday, Thailand’s SET Index closed at 1,561.68 points, decreased 20.92 points or 1.32%, with a trading value of THB 68.96 billion.
