Major stock markets in Asia traded mostly higher on Tuesday as the war in Ukraine continued and the Fed expected to hike rates more aggressively.
As of 10:20 local time in Thailand, Nikkei rose 1.55%, SSEC dipped 0.04%, Hang Seng Index gained 0.86%, ASX 200 increased 1.29% and IDX Composite advanced 0.40%.
Thailand’s SET Index opened at 1,674.52 points, increased 0.65 points or 0.04%.
Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co., Ltd., through “Kaohoon Jor Talad Program” on March 22, 2022, stated that regional markets are moving in sideways trends as investors digested information from the U.S. Fed on an outlook for future rate hikes that could be more aggressively due to rising inflation. The support level for SET Index today is 1,668-1,650 points and a resistance level at 1,685 points.
Meanwhile, oil sectors are surging due to the rising oil prices from both Brent crude and West Texas Intermediate. Thus, Mr. Suktae noted that oil stocks are attractive, namely; PTTEP, SEAOIL, TOP and IRPC.
As for stock in focus from ASL, Mr. Suktae recommended PJW (S4.50/R5-5.50), HANA (S50/R55), SNNP (S16/R17.50) and SMD (S13/R14.50-15)
