Finansia Syrus Securities (FSS) expected Thailand’s SET Index to maintain its recovering trend to 1,430-1,440 range as concerns in the market continued to ease, following the U.S. non-farm payroll for October that showed an increase by 150,000 jobs, which was lower than the expectations from the market. Meanwhile, wages rose 0.2% MoM and 4.1% YoY, which was also a slowdown from the previous month. These had led to the market expecting that the current Fed’s policy rates at 5.25-5.50% is its peak, causing fund flows to seek risk assets.
South Korea’s KOSPI jumped 92.31 points or 3.90% to 2,460.65 points as the market approached the afternoon session as regulators imposed a short-selling ban from today until supposedly June 2024 to actively improve rules and systems of the stock exchange.
The regulator said that amid market turmoil, they have found massive illegal naked short-selling by global investment banks and circumstances of additional illegal activities.
Short-selling of stocks will be banned for companies in the Kospi 200 Index and Kosdaq 150 Index.
Hong Kong’s Hang Seng Tech Index soared 4.20% to 4,102.72 on follow-through buying today, given the breakout of the downtrend. EV stocks such as LI, NIO and XPEV were the strongest in the group and significantly higher than their ADRs’ last close.
