Brokers project positive outlooks for the Thai stock market on Tuesday, supported by improved global risk appetite after U.S. shares advanced overnight on renewed buying in technology stocks. The stronger tech tone could benefit Thai-listed electronics component shares, although weaker oil prices may limit broader index gains.
Asia Plus Securities expects the Thai benchmark to continue moving sideways-up in line with overseas markets. The firm pointed to the rebound in U.S. technology shares as a positive signal for domestic electronics-related counters.
Geopolitical concerns also eased after President Donald Trump stated that a severe attack on Iran was unlikely. That helped calm worries over tensions in the Middle East and contributed to lower crude prices.
The securities firm set a resistance level for the SET Index at 1,490 points, and a support level at 1,460 points.
Daol Securities also anticipates the Thai bourse to trade sideways-up as investment sentiment improves. The brokerage highlighted electronics shares as potential beneficiaries after semiconductor stocks rose about 6.85%.
However, Daol noted that falling oil prices could pressure energy stocks, which may restrain the pace of the broader market’s recovery.
Yesterday, Thailand’s SET Index closed at 1,473.07 points, increasing by 7.37 points or 0.50%, with a trading value of THB 52.52 billion.
