Brokers project neutral-to-negative outlooks for the Thai stock market on Monday, amid heightened volatility from global technology weakness. Broader market sentiment remains constrained by geopolitical friction in the Middle East and cautious pre-election de-risking in the United States.
Maybank Securities (Thailand) expects the Thai benchmark to fluctuate within a trading band of 1,510 to 1,530 points in early trading, as downward sentiment from major selling in U.S. technology shares, risk-reduction ahead of the U.S. midterm election, and tension in the Middle East has hampered investors’ risk-appetite.
On the domestic front, market participants are shifting their focus toward October inflation data alongside third-quarter corporate earnings releases across real sector industries.
Meanwhile, Daol Securities forecasts wider weekly boundaries between 1,500 and 1,560 points for the Thai bourse, pointing to early-week downside pressure on technology-linked equities resulting from global tech downturn.
Looking ahead to the mid-to-late week, investor focus will turn to U.S. employment data, the U.S. tech sector’s financial results, and the outcome of the midterm elections to gauge whether investor confidence can regain traction.
Last Friday, Thailand’s SET Index closed at 1,518.59 points, decreasing by 26.01 points or 1.68%, with a trading value of THB 73.62 billion.
