Asia Stocks Trade Higher, Analyst Expects a Technical Rebound amid U.S.-China Tension

Stocks in Asia mostly edged higher in the morning session on Monday amid the escalated tension between the U.S. and China.

 

As of 9:25 local time in Thailand, Nikkei rose 1.38%, SSEC gained 0.17%, HSI dipped 0.65%, ASX 200 hiked 1.68% and Kospi advanced 0.47%.

 

Finansia Syrus Securities (FSS) expected SET Index to swing sideways between 1,290-1,315 points, with a technical rebound in the short term after a plummet last Friday.

However, the upside is still limited as the market has already priced-in the positive sentiment from the reopening economy. Meanwhile, the tension between the U.S. and China has escalated after the U.S. threatened to put a sanction on China if Beijing implemented the new national security laws on Hong Kong.