On Monday, Tisco Securities expected the Thai stock market to plunge along with foreign market sentiment due to weakening oil prices and concerns over U.S. tariff on Canada, Mexico, and China, which would be in effect today, combining with lower-than-expected PMI in the manufacturing sector raising worries about the U.S. economy.
Domestically, many of listed companies’ 2024 performance reports missed forecasts, resulting in the declining EPS that have brought the stock index down to record low in five years.
Following the decline in the Thai stock market to its 5-year low yesterday, the analyst from Tisco Securities set a support level at 1,180-1,185 points, while the next support level would be 1,140-1,150 points. Additionally, the resistance level is set at 1,210-1,215 points.
