Stocks in Asia traded mostly lower on Tuesday, following a global plummet in the previous session as many negative sentiment loomed the stock markets. Nikkei led the market in a loss this morning by nearly 2%/
Thailand’s SET Index opened slightly higher at 1,603.50 points, increased 0.44 points or 0.03%.
As of 10:21 local time in Thailand on September 21, 2021, Nikkei fell 1.97%, Hang Seng Index slipped 0.22%, Indonesia IDX Composite dipped 0.51%, while Australia ASX200 rose 0.23%.
Yesterday, global stock markets faced a series of selloff amid concerns over the upcoming Fed’s meeting, China’s Evergrande defaulting and U.S. raising debt ceiling, especially the last two factors that could send critical impact to global markets.
Meanwhile, the Thai government also gave a nod to raise the debt ceiling from 60% to 70%.
Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co.,Ltd., through “Kaohoon Jor Talad Program” on September 21, 2021, stated that the Evergrande default will have an impact on the overall outlook in global investment. The property sector will take the most impact, followed by the banking sector.
Mr. Suktae recommended investors to monitor the 2-day Fed’s meeting, giving a support level at 1,600 points and the next level is 1,585-1,575 points.
In addition, the analyst recommended SAT (S20/R21.50-22) and CKP (S5.20/R6-6.30), while adding that export stocks such as TU, ASIAN and TTA are also attractive, while the pressure is still on the banking sector.