Analyst Expects Gains in Thai Market, Following a Tech-Buyback in Wall Street

Tisco Securities expected a positive session in the Thai stock market in response to the sentiment in Wall Street last Friday that triggered a buyback in tech stocks, resulting in a gaining session in Asia markets.

Meanwhile, Tisco Securities stated that the Covid-19 situation in Thailand would continue to pressure the market even though today’s new cases – 17,000 – were the lowest in almost two months. This could lead to an uptick in domestic-play stocks. However, the securities company believed that the upside in SET Index is still limited as investors are looking ahead to the Fed’s meeting during 26-28 August to look for signals of economic recovery.

In addition, Tisco Securities added that there are 105 listed companies to post an ex-dividend date this week, giving a support level at 1,545 points and a resistance level at 1,560-1,565 points.

 

As of 9:38 local time in Thailand on August 23, 2021, Nikkei increased 1.76%, SSEC rose 1.22%, HSI jumped 2.14%, ASX 200 gained 0.27% and Kospi hiked 1.53%.