Analyst Expects SET to Extend the Gain in Response to Vaccine Development by Pfizer!
Tisco Securities expected SET Index to continue its rally and surpass the 1,300 resistance level in response to the progression of Covid-19 vaccine by Pfizer and BioNTech, saying that their coronavirus vaccine is more than 90% effective. Stock markets in Asia also traded higher on Tuesday morning.
Moreover, the winning of Joe Biden as a new president of the United States of America has a positive sentiment of a fund inflow into Asia markets, especially emerging markets.
The analyst estimated that stocks in the hotel business and airlines that were laggarded could see a good recovery in today’s session. However, the analyst suggested investors to monitor the MSCI rebalancing tomorrow and the economic data from China as well as the announcement of listed companies’ earnings in 3Q20, giving a support level at 1,275-1,280 points and a resistance level at 1,310-1,320 points.