Brokers project negative outlooks for the Thai stock market on Friday, as concerns over rising bond yields and oil prices pressured global sentiment. Investors continue to monitor U.S. inflation data to gauge the direction of the Federal Reserve monetary policy.
Asia Plus Securities expects the Thai benchmark to trade sideways-down, tracking softer global market sentiment as elevated bond yields continue to weigh on risk appetite. Inflation concerns remain a key pressure point, driven by persistent Middle East tensions and a further rise in crude oil prices.
However, the brokerage noted that oil-linked energy stocks could help cushion losses as crude prices continue to climb.
Asia Plus set a resistance level for the SET Index at 1,630 points, and a support level at 1,600 points.
Daol Securities also anticipates the Thai bourse to move sideways-down, citing pressure from high bond yields and renewed inflation worries tied to rising oil prices.
The analyst noted that investors are now focused on upcoming CPI data, which will be an important input for the Fed ahead of next week’s FOMC meeting.
Yesterday, Thailand’s SET Index closed at 1,615.07 points, decreasing by 2.82 points or 0.17%, with a trading value of THB 69.91 billion.
