Stocks in Asia traded in a mixed session as investors watched the Evergrande crisis and the U.S. Fed’s second-day meeting to grasp signals for asset tapering this year.
Thailand’s SET Index opened at 1,617.51 points, increased 2.65 points or 0.16%.
As of 10:03 local time in Thailand on September 22, 2021, Japan Nikkei dipped 0.58%, Shanghai Composite fell 0.56%, Hang Seng Index rose 0.51%, Australia ASX200 gained 0.65% and Indonesia increased 0.83%.
Global markets faced a selloff on Monday as negative factors from all over the place; Evergrande, U.S. debt ceiling, Fed’s tapering etc. crashed the market all at once, while being able to gain some ground on Tuesday.
Investors are still keeping a closer look on these matters as each of them will have an impact on the stock market.
Mr. Chaiyot Jiwangkul, Assistant Director of Krungsri Securities (KSS), through “Kaohoon Jor Talad Program” on September 22, 2021, stated that the Evergrande crisis is far from over as the previous selloff was to withdraw and wait for certainty in the upcoming days. The analyst expected the Chinese government to assist Evergrande directly or indirectly in the end.
Mr. Jiwangkul believed that there would be a discussion in the meeting regarding asset tapering. If not at this meeting, it will be closely monitored by investors to see the next two meetings in November and December for the announcement of tapering.
KSS’ analyst expected the SET Index to slow down in today’s session around 1,600 level, but seeing it an opportunity to accumulate for the future positive factors as the Thai government is quite positive on the October reopening in phrases.
As for the deal between SCB and ADVANC on providing digital financial services, Mr. Jiwangkul was positive on the deal as a win-win for both banks, expecting SCB to be in a strong position from receiving ADVANC’s customer base.