Thai Stocks Eye Volatility as GDP Figures Loom

The Thai stock market is expected to remain volatile this week, according to Kasikorn Securities. The SET Index may fluctuate between support levels of 1,585 and 1,560 points and resistance at 1,620 and 1,630 points. Investors are closely watching Thailand's second-quarter GDP figures, due for release this week, as well as developments in the Middle East and foreign capital flows.

The market's sentiment will also be influenced by key US economic data, including July housing starts, industrial production, preliminary August manufacturing and services PMI figures, the Federal Reserve meeting minutes, and weekly jobless claims. Thai shares initially gained alongside regional markets amid expectations that the Federal Reserve would not rush to raise interest rates after weaker-than-expected US non-farm payroll data for July.

Electronic component stocks led the early gains, helped by a recovery in global technology shares. However, concerns over the Middle East later weighed on the market, particularly expectations that negotiations to reopen the Strait of Hormuz could take longer than anticipated.