Analyst Expects SET to Edge Higher in Response to Weak Dollars and Higher Oil Prices

Stocks in Asia edged mostly higher on Monday in anticipation of the U.S. stimulus plan and the potential of J&J coronavirus vaccine that was under review by the FDA. Foreign investors net bought 181 million baht of Thai shares last Friday, which was the first time in 11 days. Meanwhile, the dollar depreciation also boosted investments in risk assets, coupled with an increasing in oil prices to drive the energy sector. Tisco Securities recommended a support level at 1,490-1,492 points and a resistance level at 1,500-1,510 and 1,515 points.

 

As of 9:23 local time in Thailand on February 8, 2021, Nikkei soared 2.02%, SSEC increased 0.13%, HSI rose 1.04%, ASX200 gained 0.73%, while Kospi dropped 0.43%.

 

Last Friday, SET Index closed at 1,496.61 points, increased 13.63 points or 0.92% with a trading price at 79.3 billion baht.