Major stock markets in Asia traded mostly lower on Tuesday as concerns over an omicron outbreak, U.S. rate hike and a quick pace of inflation continue to pressure the market.
On January 11, 2022, Thailand’s SET Index opened at 1,662.72 points, increased 5.66 points or 0.34%.
As of 10:06 local time in Thailand, Nikkei dropped 0.87%, SSEC fell 0.21%, Hang Seng Index gained 0.02%, ASX 200 decreased 0.58% and IDX Composite slipped 0.013%.
Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co., Ltd., through “Kaohoon Jor Talad Program” on January, 11, 2022, expected the Thai stock market to fluctuate due to the impact from QE tapering, rate hikes and an omicron outbreak that should continue to pressure the market by another half a month, giving a resistance level at 1,660-1,670 points and a support level at 1,630-1,640 points.
Mr. Suktae pointed out that in response to the upcoming earnings season for Thai banks, the banking sector is moving in a positive direction. The analyst recommended investors to wait for the market to weaken to around 1,630 points and increase its position in the sector.
