Brokers project neutral outlooks for the Thai stock market on Friday, as global market signals remain unfavorable. Meanwhile, investors continue to monitor key geopolitical developments involving the U.S.-China summit and the Middle East conflict.
TISCO Securities expects the Thai benchmark to trade sideways-down, as higher U.S. bond yields, a firmer Dollar Index and continued gains in oil prices continue to weigh on regional risk appetite.
TISCO stated that investors are likely to hold back from adding positions while awaiting developments from the negotiation between the U.S. and Chinese leaders. The brokerage also noted that Thailand’s export data due today is expected to be solid, which could provide support for export-linked stocks.
The securities firm set a support level for the SET Index at 1,590 points, and a resistance level at 1,612 points. If the index moves above that level, the next resistance is seen at 1,620 points.
Daol Securities expects the Thai bourse to move sideways around the 1,600-point level, citing a lack of fresh catalysts for the market.
The analyst said investors are focused on two main issues: the outcome of the Trump-Xi meeting and talks between the U.S. and Iran over ending the war and reopening the Strait of Hormuz.
Yesterday, Thailand’s SET Index closed at 1,602.58 points, decreasing by 8.12 points or 0.50%, with a trading value of THB 68.53 billion.
