Analysts Expect SET to Move Sideway-Down amid Tight Valuation in the Market

Analysts Expect SET to Move Sideway-Down amid Tight Valuation in the Market.

Tisco Securities expected the Thai stock market to move in a sideways trend to sideway-down trend due to a tight valuation in the market and the upcoming of a big-cap IPO, leading to institutional and foreign investors to adjust their portfolio.

 

Nevertheless, the analyst advised investors to keep an eye on the Center for COVID-19 Situation Administration (CCSA)’s meeting to see if the government will ease up any Covid-19 restriction or not. Meanwhile, the 4Q20 and 2020 earnings of companies in the real sector will be announced soon with SCC and DTAC are expected to come out first. Moreover, the analyst gave an advice to keep an eye on the Fed’s meeting this week to see the economic outlook.

Tisco’s analyst expected the support level at 1,485-1,490 points and a resistance level at 1,505-1,510 points.

 

Meanwhile, Krungsri Securities (KSS) estimated that SET is expected to head further south today and test 1,485-1,490 support level amid reports the US Senate has opposed the fresh stimulus measures. Softer oil prices following the larger-than-expected rise in US crude inventory and slowing fund inflows could also dampen sentiment.

Stocks in Asia edged higher in the morning session of Asia markets amid a slight gain in Dow Jones Future. Nikkei rose 0.33%, SSEC gained 0.37%, HSI increased 1.43%, ASX200 hiked 0.36% and Kospi advanced 1.37%.

 

 

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