Thailand’s SET Index opened at 1,649.67 points, decreased 3.06 points or 0.19%.
As of 10:18 local time in Thailand, Nikkei fell 0.55%, SSEC rose 0.10%, Hang Seng Index dropped 1.18%, ASX 200 dipped 0.42% and IDX Composite slipped 0.81%.
Asia Wealth Securities (AWS) expected the SET this week (24 to 28 January) to move within the range of 1,630-1,670 points while fluctuating lower at the beginning of the week before the Fed’s FOMC meeting scheduled for 25-26 January.
AWS maintained its view and weighed the base case which gives us the expectation that the SET has a chance to recover at the end of the week after reflecting many of the concerns and negative factors before. Last week, the SET was down 19.9 points (-1.19%). In addition, the Federal Reserve meeting (Fed) had to monitor the U.S. GDP report in 4Q21, with the Market Consensus forecast to expand 5.7%. While Thailand still has to be monitored the political situation.
For investment strategy, AWS weighted stocks in the domestic play group that benefited from the results of the major CCSA meeting, which eased control measures. AWS viewed the tourism sector as AOT, AAV, BA, BAFS, ERW, MINT, CENTEL and SHR, as well as stocks benefiting from recovering domestic purchasing power and laggard’s share price: CPF, CPALL, BEM, BEC, ONEE, BJC, KBANK, BBL, LH, SC and ORI.
