Major stock markets in Asia traded higher on Friday with Hong Kong leading the gain by nearly 2% in the morning session.
As of 10:16 local time in Thailand on May 20, 2022, Nikkei rose 0.99%, SSEC increased 0.80%, Hang Seng jumped 1.80%, ASX 200 gained 1.01% and IDX Composite hiked 1.66%.
Thailand’s SET Index opened at 1,618.75 points, increased 12.77 points or 0.80%.
Mr. Kantara Ladawan na Ayutthaya, executive director of Finansia Syrus Securities (FSS), through “Kaohoon Jor Talad Program” on May 20, 2022, recommended that investors should hold on to the positions, saying that the trend will turn positive if SET Index is able to surge above 1,640 points, otherwise it could go sideways as investors shift focus to inflation rate instead of Fed’s rate hike.
Meanwhile, Thailand also has a positive factor from easing Covid-19 outbreak and the country is nearly at a full reopening that could gradually boost the economy, especially tourism.
In addition, Mr. Ladawan recommended investors to pick stocks that will have positive impact from the reopening and also stocks that can make price adjustments to offset rising costs.
