Stock markets in Asia traded higher on Wednesday with Japan’s Nikkei leading the gain in the morning session while other major stock markets are closed for the Lunar New Year holidays.
Thailand’s SET Index opened at 1,666.51 points, increased 4.76 points or 0.29%.
As of 10:26 local time in Thailand, Nikkei rose 1.55% and IDX Composite gained 0.99%. Meanwhile, Taiwan Weighted Index slipped 0.15%.
China, Hong Kong, Singapore and South Korea are closed on Wednesday for the Lunar New Year holidays.
Mr. Chaiyot Jiwangkul, Assistant Director of Krungsri Securities (KSS), through “Kaohoon Jor Talad Program” on February 2, 2022, stated that the Thai stock market should move positively as investors are more relaxed on the rate hike concerns. However, Mr. Jiwangkul noted that investors should be more cautious once the SET Index is approaching the previous high, which is a strong resistance level of 1,680 points.
Mr. Jiwangkul noted that inflows to the Thai stock market and regional markets as investors are expecting to return to normalcy after the Covid-19 pandemic without lockdown measures, resulting in commerce and banking stocks to perform better.
