Brokers projected mixed outlooks on the Thai stock market on Monday amid downside risks from the Middle East conflict. However, there are supportive catalysts from robust fund inflows and policy breakthroughs.
FSS International Investment Advisory Securities (FSSIA) expects the Thai equity market to trade sideways, as ongoing unrest in the Middle East continues to weigh on investor sentiment. Despite these challenges, the brokerage firm said foreign capital inflows remain a key support for the local market.
The analyst firm set the Thai market’s key support levels at 1,613 – 1,610 points, with a resistance level at 1,630 points.
Daol Securities stated that the Thai bourse will remain attractive this week, driven by the government’s ability to fully proceed with the borrowing decree—provided all approval processes are completed—as well as the strong foreign inflows. Reduced concerns surrounding global technology stocks have also contributed to renewed interest among investors.
However, the ongoing tension in the Middle East is anticipated to exert intermittent pressure on the equity market.
The broker places this week’s trading range for the benchmark index at 1,610 – 1,640 points.
Last Friday, Thailand’s SET Index closed at 1,621.55 points, increased 13.25 points or 0.82%, with a trading value of THB 77.14 billion.
