Brokers project neutral outlooks for the Thai stock market on Monday, as investors monitor the upcoming summit between the U.S. and Chinese leaders. Meanwhile, volatility persists as external catalysts continue to influence the market’s direction.
TISCO Securities expects the Thai benchmark to move sideways, as market participants wait for a scheduled meeting between U.S. President Donald Trump and Chinese President Xi Jinping later this week. Market sentiment is also likely to remain cautious due to lingering uncertainty in the Middle East.
TISCO said domestic trading could face pressure from the energy sector after crude oil prices fell on Friday night. However, sentiment received some support after Fitch Ratings revised Thailand’s credit outlook to “Stable” from “Negative.”
The securities firm set a resistance level for the SET Index at 1,600 points, and a support level at 1,570 points.
Daol Securities expects the Thai bourse to trade within a 1,540-1,625 range this week. The brokerage noted that volatility may persist after the Federal Reserve completed its latest interest rate increase, leaving investors focused on inflation risks and movements in bond yields.
This week’s market direction is expected to be influenced by comments from several Fed officials, upcoming economic data and the meeting between the U.S. and Chinese leaders.
Last Friday, Thailand’s SET Index closed at 1,584.15 points, increasing by 0.81 points or 0.05%, with a trading value of THB 71.44 billion.
