On Wednesday, Krungthai XSpring Securities expects the Thai market to trade sideways-down along with international markets’ trend, as concerns over the Middle East situation have returned after Iran struck ships in the Strait of Hormuz, raising oil prices.
Furthermore, there is a downward sentiment from continued selling pressures in the technology sector.
The securities firm set a resistance level for the SET Index at 1,610 – 1,615 points, and a support level at 1,590 – 1,595 points for today’s session.
Daol Securities estimated that the SET Index will move sideways-down with volatility, after the U.S. launched an attack on Iran.
Domestically, investors are awaiting the Constitutional Court’s decision on the Emergency Loan Decree tomorrow.
Meanwhile, the tech selloffs in the foreign markets last night may raise concerns and lead to profit-taking pressures on the Thai bourse.
Yesterday, Thailand’s SET Index closed at 1,604.13 points, decreased 12.75 points or 0.79%, with a trading value of THB 81.81 billion.
