Major stock markets in Asia traded lower on Tuesday as the market is monitoring the upcoming Fed’s meeting and the tension at the Ukrainian border.
Thailand’s SET Index opened at 1,638.97 points, decreased 1.57 points or 0.10%.
As of 10:25 local time in Thailand, Nikkei plunged 2.03%, SSEC fell 0.89%, Hang Seng Index dropped 1.44%, ASX 200 decreased 2.43% and IDX Composite slipped 1.58%.
Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co., Ltd., through “Kaohoon Jor Talad Program” on January 25, 2022, stated that the U.S. stock markets moved wildly last night amid concerns over the Fed’s meeting and tension between the U.S., Ukraine and Russia.
Mr. Suktae pointed out that there are many speculations on the Fed’s decision on rate hike whether to be four or more than four hikes this year. However, the estimate of 25bps increase in March is already priced in. As for the tension between the Ukrainian border, Mr. Suktae expected that there would be no major confrontation or war outbreak.
The regional markets are trading lower due to the negative sentiment from yesterday as well as the Thai stock market, giving a support level at 1,630 points. The deputy MD warned that the downfall for SET Index would be fast if the index falls below the support level, but should not be lower than 1,612 points.
