Major stock markets in Asia traded mostly lower on Wednesday as investors continue to monitor the situation in Ukraine after the invasion by Russia entered the seventh day.
As of 10:10 local time in Thailand, Nikkei fell 1.87%, SSEC dipped 0.25%, Hang Seng Index decreased 1.00%, ASX 200 increased 0.02% and IDX Composite rose 0.075%.
Thailand’s SET Index opened at 1,699.17 points, increased 4.89 points or 0.29%.
Mr. Chaiyot Jiwangkul, Assistant Director of Krungsri Securities (KSS), through “Kaohoon Jor Talad Program” on March 2, 2022, stated that the unrest situation between Russia and Ukraine would not directly hit Thailand’s economy. However, Russia and Ukraine are among global’s largest commodities suppliers, and the conflict could indirectly result in higher inflation in Thailand. Meanwhile, Russian tourists are second highest after China in pre-Covid era. The situation could lead to fewer arrivals as China has yet to officially allow outbound travel.
Mr. Jiwangkul recommended PTTEP (TP156) as the main beneficiary from rising oil prices. Meanwhile BANPU (TP14) will benefit from an all-time high coal price. HMPRO (TP18.50) is the favourite in retail sales, following aggressive sales from the property sector that could lead to more home decorations.
