SET Index Surpasses 1,600pts as Investors Shake Off Omicron Fears
SET Index rose 16pts at the open as investors shake off concerns over the omicron case in Thailand.
On December 7, 2021, Thailand’s SET Index opened at 1,604.15 points, increased 15.96 points or 1%.
Major stock markets in Asia traded mostly higher on Tuesday, following the surge in Wall Street last night as investors shook off omicron fear.
As of 10:05 local time in Thailand, Nikkei rose 1.27%, SSEC fell 0.44%, Hang Seng Index gained 1.17%, ASX 200 increased 0.49% and IDX Composite advanced 0.63%.
Last night, investors shook off omicron concerns after the Dow Jones closed 1.87% higher, while S&P 500 and Nasdaq gained 1.17% and 0.93%, respectively. The reopening, energy, industrials and airlines stocks were among the groups that led Wall Street higher.
Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co., Ltd., through “Kaohoon Jor Talad Program” on December 7, 2021, stated that the sentiment is positive for Thailand and its stock market despite the first report of Covid-19 omicron case while global markets are also trading at a higher level as well. Mr. Suktae expected SET Index to challenge the 1,600-1,610 level. Meanwhile, Mr. Suktae noted that the market should already be priced in the Fed fund rate.
In addition, Mr. Suktae recommended TISCO (R93-95), GUNKUL (S4.50/R5), BGRIM (S38.50/R41-43), GPSC (R78), PTG (R16).