Major stock markets in Asia traded mostly lower on Tuesday despite a positive session in Wall Street last night as investors are focusing on the upcoming Fed’s meeting.
As of 10:33 local time in Thailand on May 24, 2022, Nikkei slipped 0.51%, SSEC fell 0.82%, Hang Seng Index dropped 1.38%, ASX 200 was flat while IDX Composite rose 0.95%.
Thailand’s SET Index opened at 1,635.94 points, increased 0.66 points or 0.04%.
Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co., Ltd., through “Kaohoon Jor Talad Program” on May 24, 2022, stated that the resistance level for SET Index at 1,650 points is strong and should take some time to surpass, while giving a support level at 1,620 points.
Mr. Suktae expected SET Index to fluctuate in today’s session prior to the Fed’s meeting on 26 May to discuss policy rates and balance sheet tightening.
He added that foreign investors should continue focusing on the Thai stock market as long as the U.S. policy rates are on an up trend.
In addition, Mr. Suktae recommended BBL (S125/R135), GPSC (R67-70), MINT (TP36), SABUY (R28) and COM7 (TP45).
