GBS Expects SET to Swing Between 1,600-1,630 Points This Week Amid Surging Oil and High Bond Yields

โดย HoonVision·

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Global Securities, or GBS, estimates that the Thai stock market index (SET Index) will continue to fluctuate this week, projecting a trading range of 1,600-1,630 points amid pressure from tensions in the Middle East that have driven crude oil prices sharply higher and from elevated US government bond yields. Ms. Wilasinee Boonmasungsong, Assistant Managing Director of Global Securities Co., Ltd., stated that the main negative factor came from the Dow Jones index, which fell 161.61 points, or 0.31%, while WTI crude oil futures rose 2.45 dollars, or 2.7%, to close at 94.61 dollars per barrel after Iran-backed Houthi forces fired missiles at Saudi Arabia. The CME Group's FedWatch Tool indicates that investors now assign a 69% probability to the US Federal Reserve raising interest rates by 0.25% to a range of 4.00-4.25% at this month's October meeting, up from 55.4% the previous week. Domestically, attention must be paid to the Constitutional Court's ruling on September 28 regarding the use of barcodes and QR codes on ballot papers. On the positive side, the US Senate voted against the War Powers Resolution, and the US and China agreed to extend their trade truce until January 10, 2027. Meanwhile, Mr. Watcharern Jongyanyong, Research Director at Global Securities, recommends that investors speculate on stocks that benefit from post-flood repairs, namely GLOBAL, DOHOME, HMPRO, TASCO, DCC, and DRT.