Analyst Expects SET to Rebound, Following Positive China’s Economic Growth

Krungthai Zmico Securities (KTZ) expected the Thai stock market to rebound, in line with the regional market and Dow Jones Futures in response to a positive outlook from the Chinese economic data and a slight depreciation of U.S. dollars.

The analyst saw Joe Biden’s inauguration day and the Thai Cabinet meeting as a market driver, while advising investors to keep an eye on the banking sector’s 4Q20 earnings report, giving a support level for today’s session at 1,500-1,492 points and a resistance level at 1,517-1,525 points.

 

As of 9:23 local time in Thailand on Tuesday, Nikkei rose 1.25%, SSEC dropped 0.10%, HSI gained 1.80%, ASX200 increased 1.20% and Kospi advanced 1.72%.

Meanwhile, Dow Jones Futures rose 122 points or 0.40% to 30,842.00 points.