Major stock markets in Asia traded in a mixed session after China reported slower-than-expected retail sales in November earlier this morning.
On December 15, 2021, Thailand’s SET Index opened at 1,630.09 points, decreased 0.55 points or 0.03%.
As of 10:05 local time in Thailand, Nikkei dipped 0.08%, SSEC fell 0.05%, Hang Seng Index rose 0.20%, ASX 200 slipped 0.60% while IDX Composite gained 0.66%.
Earlier this morning, the Chinese National Bureau of Statistics announced that retail sales for November grew by 3.9% from a year ago, which was below the 4.6% YoY growth forecast by a Reuters poll. Meanwhile, industrial production expanded by 3.8% in November YoY, a better-than-expected growth from the poll’s 3.6% expectation.
Mr. Suwat Sinsadok, Managing Director of FSS International Investment Advisory (FSSIA), through “Kaohoon Jor Talad Program” on December 15, 2021, stated that currently is a good opportunity for an entry in the Thai stock market in hopes of a return of foreign investors in the first quarter next year, especially in January.
Meanwhile, Mr. Sinsadok expected the market to already be priced in with an anticipation of a faster-than-expected rate hike from the Fed. However, the Thai central bank would not hike the rate in the same direction of the U.S. as Thailand is far from stagflation.
