Thai stocks today are expected to rebound within a limited range, easing concerns about the Middle East situation and lack of new supporting factors.

Thai stocks today, 29 Oct. Analysts expect a rebound, receiving sentiment from the US stock market last night, closing in the positive range, easing concerns about the tense situation in the Middle East, and the Asian stock market this morning moving in the positive territory. They see the Thai stock market still adjusting in a limited range, lacking new supporting factors.

Mr. Therdsak Thaweethiratham, Deputy Managing Director, Research Division, Asia Plus Securities He said that the Thai stock market today is expected to rebound after yesterday's adjustment down to the support level of 1,450 points, but was still able to close above that level. The supporting factor today will come from the positive sentiment of the US stock market last night, which turned positive, partly due to concerns about the tense situation in the Middle East, where attacks are still limited.

While other stock markets in Asia opened this morning in positive territory, we still see the Thai stock market trend today adjusting within a limited range because there is still a lack of new supporting factors for the stock market that will push the index forward.

Ready to give resistance 1,460-1,465 points, support 1,445-1,450 points

Innovation Exchange Securities The market still lacks new supporting factors and expects Fund Flow to continue to flow out. In addition, investors in the market are waiting to see the US GDP figures in Q3 and the US employment figures to assess the Fed's interest rate outlook. The price trend is still weak and can be adjusted downward. The next support levels are at 1,450 and 1,440 points respectively, while the upper frame is limited by the resistance levels of 1,460-1,470 points.

In the short term, we see that SET has a chance to fluctuate Sideway Up, supported by the 3Q67 performance of both US and Thai listed companies, which are expected to show signs of recovery, and expectations of China's economic stimulus measures. However, SET is expected to still have limited upside, with a resistance level of 1,500 points.

Because it is believed that the strong dollar will put pressure on the Fund Flow that flows into the EM market. In addition, the market is still adjusting its expectation that the central bank will cut interest rates less than previously expected. Therefore, in the short term, we must be careful with stocks that benefit from lower interest rates, whose prices have already adjusted to reflect expectations.

Including stocks that have risen sharply in the previous period, such as DELTA, GULF, ADVANC, INTUCH, because we see the market as being in a rebalance period. Therefore, the investment strategy recommends “Selective Buy”.

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