Brokers project neutral-to-positive outlooks for the Thai stock market on Thursday, as global equity markets have stabilized following a series of negative catalysts from recent geopolitical developments.
Kasikorn Securities expects the Thai benchmark to rebound in the short-term, as investors return attention to share valuations and corporate profit expansion, which it still views as favorable.
External factors remain a key drag for the market, particularly global bond yields that are still holding at elevated levels. The firm also recommended investors watch the Federal Reserve meeting scheduled for the middle of this month.
The securities firm placed a support level for the SET Index at 1,565 points, and a resistance level at 1,590 points.
Daol Securities anticipates the Thai bourse to trade sideways, with a potential recovery in buying interest after global investment sentiment has stabilized. Market participants are waiting for fresh drivers, especially developments tied to the Iran war and U.S. economic data.
For Thai equities, Daol said the market continues to lack new positive catalysts. Still, investors may begin looking for stocks whose prices have fallen more sharply than their fundamentals. The analyst also noted that renewed buying in global semiconductor stocks could help attract interest in Thai electronics names.
Yesterday, Thailand’s SET Index closed at 1,575.07 points, decreasing by 13.61 points or 0.86%, with a trading value of THB 64.33 billion.
