Stocks in Asia Trade Higher as Analyst Remains Positive on SET Index in 1Q21
Stocks in Asia Trade Higher as Analyst Remains Positive on SET Index in 1Q21.
Stocks in Asia Trade Higher as Analyst Remains Positive on SET Index in 1Q21.
12 ม.ค. 2564

As of 9:30 local time in Thailand, Nikkei rose 0.17%, SSEC increased 0.42%, HSI gained 0.19%, ASX200 advanced 0.11%, while Kospi dropped 0.31%.
Last night, the Dow Jones Industrial Average closed at 31,008.69 points, down 89.28 points or 0.29%. The S&amp;P 500 Index closed 0.66% lower, and the Nasdaq Composite Index closed 1.25% lower.
 
Following a volatile session yesterday, as both foreign and local institutional investors turned to the net selling side, KGI Securities stated that the SET Index could remain range-bound on Tuesday.
From what happened to global and Thai equities yesterday, it seemed that traders largely priced in recent positive factors about more US economic stimulus, oil market spike and the rollout of COVID-19 vaccines.
Also, as US long-dated bond yields continued to rebound, market participants have started worrying about the negative impact on equities valuations, notably on the segments that hover at sky-high valuations like technology space.
On the domestic side, traders continue to monitor i) local COVID-19 infections and ii) weekly cabinet meetings, which is set to consider more economic relief for the middle-to-low income earners impacted by the latest round of COVID-19.
In KGI’s view, market consolidation could stay for some time, but KGI remained positive to the SET Index in 1Q21 and recommended accumulating on the market weakness.