Brokers project neutral outlooks for the Thai stock market on Tuesday, citing pressure from elevated crude prices, high bond yields and selling in semiconductor-related stocks. The lack of fresh catalysts is also keeping the SET Index in a sideways range.
Maybank Securities (Thailand) expects the Thai benchmark to remain volatile in early trading and undergo a short-term pullback, as the market faces persistent pressure from crude oil prices and bond yields holding at high levels.
Global semiconductor shares are facing sharp selling after AI company executives urged a slower pace of technology development, while Maybank expects DELTA to be weighed down by company-specific factors.
The securities firm set a support level for the SET Index at 1,580 points, and a resistance level at 1,600 points.
Daol Securities projected that the Thai bourse may potentially move sideways as investors wait for new drivers. The firm said market concerns over AI and inflation had been largely priced into equities.
Key events for investors this week include policy meetings of the U.S. Federal Reserve and the Bank of Japan, the brokerage said.
For strategy, Daol recommended using market weakness to gradually accumulate shares for medium- to long-term investment. The analyst’s preferred tourism names are AOT, CENTEL and ERW, though the sector may face near-term pressure from higher oil prices.
In broader investment themes, the broker continues to favor data center and power-related stocks, naming GPSC, BGRIM and ADVANC, while its preferred banking stocks are KTB, KBANK, KKP and TTB.
Yesterday, Thailand’s SET Index closed at 1,591.07 points, decreasing by 13.45 points or 0.84%, with a trading value of THB 61.89 billion.
