Brokers projected muted outlooks for the Thai stock market on Tuesday, as renewed Middle East tensions drove oil prices higher, increasing uncertainty for local equities. Investors are closely observing domestic earnings releases, with TISCO’s financial results anticipated to influence trading activity in the banking sector.
Maybank Securities (Thailand) expects the Thai bourse to consolidate in early trading, as the resurgence of geopolitical risks in the Middle East led to higher crude prices, prompting investors to become more cautious. The brokerage recommends monitoring TISCO’s upcoming earnings report, noting that better-than-expected results could improve sentiment and spur speculative buying within commercial bank shares.
The securities firm set a support level for the SET Index at 1,615 points and a resistance level at 1,635 points.
Separately, Daol Securities expects the Thai benchmark index to trade within a narrow range as the market assesses the latest developments in the Middle East. Some selling may occur given the heightened geopolitical risks. International investors are also awaiting U.S. inflation data set for release tonight. Meanwhile, technology shares have come under pressure across major markets amid persistent concerns over capital expenditures and profitability.
Yesterday, Thailand’s SET Index closed at 1,627.90 points, increased 6.35 points or 0.39%, with a trading value of THB 73.69 billion.
