Major stock markets in Asia traded mostly higher on Thursday as investors continued to assess information of the Covid-19 omicron variant.
On December 9, 2021, Thailand’s SET Index opened at 1,622.60 points, increased 4.24 points or 0.26%.
As of 10:21 local time in Thailand, Nikkei slipped 0.15%, SSEC rose 0.94%, Hang Seng Index jumped 1.16%, ASX 200 gained 0.13% and IDX Composite increased 0.22%.
Mr. Koraphat Vorachet, Capital Nomura Securities’ strategist, through “Kaohoon Jor Talad Program” on December 9, 2021, expected the Thai stock market today to move in sideways trends giving a support level at 1,609-1,599 points and a resistance level at 1,625-1,633 points, seeing big-cap stocks to slow down.
The strategist recommended investors to pick small and mid-cap stocks instead, citing that the reopening theme in the global market was on an uptrend yesterday, thus recommending Thai stocks that are still laggard such as industrial stocks.
Capital Nomura Securities made an analysis on the Asia market, seeing a fluctuation on a downside in the first quarter of 2022 and will see a rebound in the second quarter over internal economic drivers and the recovery of tourism. Mr. Vorachet added that if there is a correction in the Thai stock market, it will be an indication for an entry point.