Daily Strategy: KSS Sees Positive Trend Going on SET Index amid Omicron Concerns

Major stock markets in Asia traded in a mixed session on Wednesday, following a positive session in Wall Street last night, snapping a three-day losing streak from omicron fear.

On December 22, 2021, Thailand’s SET Index opened 1,628.77 points, increased 6.52 points or 0.40%.

As of 10:18 local time in Thailand, Nikkei rose 0.11%, SSEC dipped 0.09%, Hang Seng Index increased 0.30%, ASX 200 fell 0.24% and IDX Composite rose 0.32%.

Last night, Dow Jones gained 560.54 points or 1.6% to close at 35,492.70 points. S&P 500 rose 1.8% and Nasdaq increased 2.4%.

 

Mr. Chaiyot Jiwangkul, Assistant Director of Krungsri Securities (KSS), through “Kaohoon Jor Talad Program” on December 22, 2021, stated that the Thai stock market outlook is still in an uptrend, seeing the market usually bounce back after two or three days of decline. Meanwhile, Mr. Jiwangkul noted that the Covid-19 omicron variant will hit hard as the U.S. saw a significant surge in cases and U.K. daily cases continue to reach a record high of over 100,000 cases per day. However, he believed that the development of the vaccine and experience and knowledge from almost two years with this virus should help minimise severity and concerns.

Thus, Mr. Jiwangkul recommended investors to wait for the market at a weakening or panic stage to take an opportunity for entry.