On Thursday, Krungthai XSpring expects the Thai market to move sideways within range, with short-term negative factors from the policy tightening signal from the Federal Reserve, and the prospect of earlier-than-expected rate hike later this year.
Nevertheless, investors are monitoring the official signing of the peace treaty between the U.S. and Iran on Friday.
The securities firm set a resistance level for the SET Index at 1,600 points and a support level at 1,585 points for today’s session.
Daol Securities stated that the SET Index may potentially surge despite slightly negative FOMC meeting results, there is a new supporting factor from the signing of a temporary ceasefire MOU between the U.S. and Iran.
For today, the analyst highlighted sectors that as previously sharply declined from the war including power plants (BGRIM), tourism (AOT and BA), stocks in other sectors (such as BDMS, BH, HMPRO, CPALL, CRC, and SCC), as well as the banking sector, which are the pillar of the Thai market.
Yesterday, Thailand’s SET Index closed at 1,587.07 points, decreased 0.98 points or 0.06%, with a trading value of THB 63.78 billion.
