On Wednesday, Krungthai XSpring Securities expects the Thai market to move sideways-down along with the foreign markets’ trend, with the pressures potentially coming from the selling pressure in tech-related stocks—particularly the electronics part stocks, as well as the Middle East tension after the tit-for-tat attacks between the U.S. and Iran, raising the market participants’ concerns.
The securities firm set a resistance level for the SET Index at 1,590 points and a support level at 1,565 points for today’s session.
Daol Securities estimated that the SET Index will move sideways within a limited range despite previously closing with a 22.46 points increase, as the rises are heavily hinged solely on DELTA, which affect the index as much as 25.22 points. Excluding DELTA, the Thai bourse overall remains weak and declining.
Most investors are curbing their investment and adopted a Wait & See stance to monitor the Middle East situation, which flared up last night.
Additionally, global monetary assets traders are also monitoring tonight’s U.S. inflation (CPI) figures report.
Yesterday, Thailand’s SET Index closed at 1,584.14 points, increased 22.46 points or 1.44%, with a trading value of THB 70.50 billion.
