Major stock markets in Asia traded in a mixed session as Hang Seng Index pressured the market while the White House nominated Jerome Powell for the Fed’s chair position last night.
Thailand’s SET Index opened at 1,653.56 points, increased 4.02 points or 0.24%.
As of 10:21 local time in Thailand on November 23, 2021, SSEC rose 0.27%, Hang Seng Index fell 1.03%, ASX 200 gained 0.68% and IDX Composite slipped 0.41%. Japan’s stock market closed for the holiday.
The U.S. President Joe Biden on Monday nominated Jerome Powell for the second four year term as the Federal Reserve’s chair. Lael Brainard will act as the vice chair of the Federal Reserve.
Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co., Ltd., through “Kaohoon Jor Talad Program” on November 23, 2021, stated that the Hong Kong Stock market weighed down the Asian markets amid concerns of surging Covid-19 and lockdown in Europe, while expecting the SET Index to move in both positive and negative territory amid rising U.S. 10-year bond yields, giving a support level at 1,640 points and a resistance level at 1,658 points.
As for the TRUE and DTAC deal, Mr. Suktae recommended investors to aim only at the recommended target price.
Mr. Suktae recommended mainly power generation stocks for the investment theme, suggesting GULF (S41-42/R44-45), GPSC (S75/R79-80), BPP (S17/R18.20), IIG (S40/R45) and EPG (R12-12.50).
