Major stock markets traded higher in the morning session on Thursday, following a gain in Wall Street last night after the U.S. Food and Drug Administration (FDA) granted an emergency authorization to Pfizer’s Covid-19 treatment pills.
On December 23, 2021, Thailand’s SET Index opened at 1,633.87 points, increased 7.08 points or 0.44%.
As of 10:10 local time in Thailand, Nikkei rose 0.31%, SSEC gained 0.12%, Hang Seng Index increased 0.41%, ASX 200 advanced 0.40% and IDX Composite edged 0.29% higher.
On Wednesday The U.S. Food and Drug Administration (FDA) granted an emergency authorization to Pfizer’s Covid treatment pills for people at a high risk of developing severe Covid-19 symptoms. The pill could be available to patients as early as this weekend and will be eligible to people at age 12 and up with mild to moderate Covid who are most likely to end up hospitalized or not survive.
Mr. Koraphat Vorachet, Capital Nomura Securities’ strategist, through “Kaohoon Jor Talad Program” on December 23, 2021, stated that stocks in Asia edged slightly higher as the market digested information from the study that omicron has lower hospitalization rate and severity than delta variant around 40-45%, coupled with the positive sentiment from the U.S. FDA that granted emergency authorization to Pfizer’s Covid treatment pills.
Meanwhile, the Thai market will focus on the revised down of Thai GDP in 2022 by the Bank of Thailand as the tourism might not reach the expectation due to the omicron outbreak. The Thai government will boost domestic travel, coupled with other stimulus packages instead of focusing on foreign travellers after the temporary cease of Test&Go measure.
In addition, Mr. Vorachet gave a support level for SET Index at 1,620-1,614 points and a resistance level at 1,637 points.
