Major stock markets in Asia traded mostly higher on Friday as investors cooled down from inflation fear and focused on economic reopening.
Thailand’s SET Index opened at 1,637.25 points, increased 4.81 points or 0.29%.
As of 10:10 local time in Thailand, Nikkei rose 1.14%, SSEC dipped 0.04%, Hang Seng Index increased 0.44%, ASX 200 gained 1.10% and IDX Composite slipped 0.34%.
Stock markets were fluctuating yesterday after the U.S. announced on Wednesday that its consumer price index jumped to a three-decade high in October with a 6.2% increase from a year ago as supply chain disruptions and purchasing demand fueled inflation amid volatile food and energy prices.
Mr. Kantara Ladawan na Ayutthaya, executive director of Finansia Syrus Securities (FSS), through “Kaohoon Jor Talad Program” on November 12, 2021, stated that he expected small movement in the Thai stock market to continue until the end of 3Q21 earnings season as investors are holding on to see the earnings results and after the announcing ended, investors would return to reopening theme.
Mr. Ladawan advised that the Thai stock market should not panic if the Covid-19 cases accelerate as long as the death toll remains low.
In addition, the director affirmed Mr. Suwat Sinsadok, Managing Director of FSS International Investment Advisory (FSSIA), outlook on the Thai stock market for an uptrend this quarter to early next year with a target at 1,700 points.
