On Wednesday, Tisco Securities expects the Thai market to trade sideways due to easing tension in Thai politics as the censure debate comes to conclusion, with the result estimated to be in the Prime Minister’s favor.
Meanwhile, more listed companies have announced share buyback programs, as HMPRO recently announced their own initiative shortly after PTT’s offering. The securities anticipates the share buybacks to keep the market afloat while there are no new supporting factors.
However, the Thai market is still weighed down by selling pressure from foreign investors. This week, the Thai market trading value is running bare due to concerns of Thailand being targeted by U.S. tariffs. Thailand is in an intermediate risk of U.S. reciprocal tariff, causing investors’ uncertainty as the levy would further weigh down the already weak Thai economy.
The firm set a resistance level for the SET Index at 1,200 points and a support level at 1,180-1,170 points.
Yesterday, Thailand’s SET Index closed at 1,184.93 points, decreased 5.13 points or 0.43% with a trading value of THB 30.76 billion.
