SET to Challenge the 1,500 Level as Optimism over Covid-19 Vaccine Boost Sentiment

Yesterday, the U.S. stock market closed at an all-time high over the optimism about the U.K.’s rollout of Pfizer’s Covid-19 vaccine on Tuesday, being one of the first countries to vaccinate its people with the drug.

 

Dow Jones closed slightly lower than its all-time high at 30,173.88 points, increased 104.09 points or 0.35%. Meanwhile, S&P 500 closed at a record high with a gain of 0.28% to 3,702.25 points. Nasdaq rose 0.50% to 12,582.77 points.

As of 9:18 local time in Thailand, Nikkei rose 0.85%, SSEC dipped 0.06%, HSI increased 0.90%, ASX200 gained 0.61% and Kospi advanced 1.12%.

 

Krungsri Securities (KSS) expected SET to challenge the resistance level at 1,490-1,500 points, following the fund flow from foreign investors over the optimism of Covid-19 vaccine, which would benefit big-cap stocks the most. However, KSS advised for “speculating play” as the valuation in the market is considerably tight and might face a profit-taking to lower the risk during the long weekend.