Daily Strategy: KSS Expects SET Index to Perform Well in 2022 as Economy Grows
KSS cited historic data, saying that SET Index usually perform well if the GDP grows while eyeing 2022 performance.
Major stock markets in Asia traded lower on Wednesday as investors are monitoring the development of Covid-19 omicron variant closely.
A new study from South Africa this week indicated that people infected with the Covid-19 omicron variant have developed and improved immune protection against delta strain by as much as four folds. Moreover, participants enrolled in the study also showed a fourteen-fold increase in the ability of antibodies to block omicron reinfection.
On December 29, 2021, Thailand’s SET Index opened at 1,643.43 points, increased 1.91 points or 0.12%.
As of 10:22 local time in Thailand, Nikkei fell 0.89%, SSEC decreased 0.63%, Hang Seng Index dropped 0.74%, IDX Composite slipped 0.019% while ASX 200 gained 1.06%.
Mr. Chaiyot Jiwangkul, Assistant Director of Krungsri Securities (KSS), through “Kaohoon Jor Talad Program” stated that fund flow is entering Asian markets seeing an economic recovery next year after the Covid-19 situation eased.
Moreover, Mr. Jiwangkul pointed out that the historical data of SET Index indicated that the market usually outperforms if GDP edges higher. Thus, if Thailand’s GDP in 2022 is in line with the forecast of around 3-4%, the stock market should have a better performance as well.