We expect the SET Index to move higher in September. On the external front, we believe investors have digested the prospect of more rate hikes from the US Federal Reserve and thus expect a limited impact from the next upward move, given the hawkish signals sent recently by Fed chairman Jerome Powell.
However, a meeting of the Opec+ alliance later this month could affect heavyweight energy stocks and thereby the global equity market, given that the group might consider cutting output to revive falling oil prices.
