Brokers projected a positive outlook on the Thai stock market on Friday, bolstered by ongoing gains in U.S. technology equities and a further easing of Middle East tensions. Recent approval of the government’s 400-billion-baht loan decree by Thailand’s Constitutional Court added to investor confidence, encouraging foreign inflows for a sixth consecutive session.
Kasikorn Securities expects the Thai equity market to open sideways with limited movement, noting that relief surrounding geopolitical developments in the Middle East—reflected in falling crude oil prices—supported risk appetite in the domestic market. The continued climb in U.S. tech stocks provided an additional tailwind for the Thai bourse.
Daol Securities stated that the Thai benchmark index may potentially open higher, as sentiment received a boost after the Constitutional Court ruled that the THB 400 Billion Emergency Loan Decree aligned with the constitution. This decision has been interpreted by investors as a signal for continued economic stimulus.
The brokerage firm concluded that the SET Index could see further upside if the government successfully implements economic measures appealing to investors.
Current projections place a support level for the SET Index at 1,600 points, with resistance expected between 1,620 and 1,640 points should positive catalysts persist.
Yesterday, Thailand’s SET Index closed at 1,608.30 points, increased 32.05 points or 2.03%, with a trading value of THB 79.97 billion.
