Major stock markets in Asia traded lower on Monday as the situation between Russia and Ukraine remained tense even after the second round talks to find a common ground for the two neighbors.
As of 10:20 local time in Thailand, Nikkei fell 3.15%, SSEC dropped 1.40%, Hang Seng Index plunged 3.58%, ASX 200 decreased 1.11% and IDX Composite fell 0.85%.
Thailand’s SET Index opened at 1,649.01 points, decreased 22.71 points or 1.36%.
Mr. Ekpawin Suntarapichard, investment strategist of the Siam Commercial Bank Securities (SCBS), through “Kaohoon Jor Talad Program” on March 7, 2022, stated that he expected the situation in Ukraine to settle within a month and the stock market could fell a turbulence along the way.
The strategist stated that the banking sector, KBANK and BBL, is still attractive. Meanwhile, sea freight business, RCL and PSL, could benefit from the no fly zone measure. In addition, stocks related to commodity prices such as PTTEP and BANPU can be speculated, but needed to be cautious of profit taking.
