On Tuesday, Krungthai XSpring Securities expects the Thai market to move sideways within range, with a positive sentiment from the easing of Middle East tensions after the U.S. and Iran move forward with peace talk, and preparing to reopen the Strait of Hormuz.
However, investors have largely priced in the catalyst, while also monitoring the Federal Reserve meeting this week, specifically the tone of the new Fed chair speech.
The securities firm set a resistance level for the SET Index at 1,600 – 1,605 points and a support level at 1,580 – 1,585 points for today’s session.
Daol Securities stated that the SET Index may potentially test the 1,600 points again after the Middle East concerns have subsided from the prospect of the U.S.-Iran signing a ceasefire agreement, while there are buying forces in tech stocks.
For this week, the analyst firm expects the index to move within the range of 1,580 – 1,610 points.
Domestically, the analyst recommends investors closely monitor the government’s THB 200 billion loan for the living costs subsidy and renewable energy support measures, while the Ministry of Finance may potentially upgrade Thailand’s 2026 GDP forecast from the current 1.6% should the Middle East unrest be resolved.
Yesterday, Thailand’s SET Index closed at 1,591.72 points, decreased 0.69 points or 0.04%, with a trading value of THB 91.84 billion.
