Daily Strategy: FSS Recommends Accumulate on Weakness for Profit Taking upon Reopening
Finansia Syrus recommended investors to accumulate stocks this month amid gradual economic reopening in Thailand.
Stocks in Asia traded lower on Friday, following a plummet in Wall Street overnight. Stock exchange in China and Hong Kong closed for the Golden Week holiday from Friday till October 7.
On October 1, 2021, Thailand’s SET Index opened at 1,603.19 points, decreased 2.49 points or 0.15%.
As of 10:07 local time in Thailand, Nikkei plunged 2.01%, Australia ASX200 dropped 2.28%, and Indonesia IDX Composite dipped 0.63%.
Last night, Dow Jones fell 1.59%, S&P 500 dropped 1.19% and Nasdaq slipped 0.44%.
Mr. Kantara Ladawan na Ayutthaya, executive director of Finansia Syrus Securities (FSS), through “Kaohoon Jor Talad Program” on October 1, 2021, stated that traders should monitor the flooding crisis in Thailand closely, but would put more focus on the reopening.
As for the investment strategy, Mr. Ladawan expected the index should not decline more than 1,580-1,550 points and recommended to accumulate this month for the economic reopening.
The analyst added that the banking and energy sectors are very attractive when trading lower as the banking sector should return to normal once reopen and the energy sector should follow from higher economic activity and fuel consumption.