Asia Stocks Drop at the Open, Analyst Expects SET to Stay Idle without Positive Factors

Stocks in Asia dropped in the morning session on Thursday as coronavirus cases continued to surge in the U.S. while concerns still remained over Beijing’s ability to contain its what-is-expected to be a second wave of the coronavirus outbreak.

 

As of 9:33 local time in Thailand (GMT+7), Nikkei lost 1.33%, SSEC dipped 0.38%, HSI plunged 0.96%, ASX 200 fell 1.52% and Kospi shedded 0.70%.

Overnight, Dow Jones plunged 170.37 points or 0.65% to 26,119.61 points. S&P 500 dropped 0.36%, but Nasdaq rose 0.15%.

 

Finansia Syrus Securities (FSS) expected SET Index to move between 1,360-1,380 points due to no new positive factors to the market after a series of rallies in hopes of the reopening economy as well as the stimulus plan from the government for the economic recovery. However, FSS stated that there were signs of the second wave of a virus outbreak in many countries and the market has not priced-in this factor as much as FSS expected.