Analyst Expects SET to Test the 1,600 Level amid Positive Sentiment form U.S. Job Data
Analyst Expects SET Index to Test the 1,600 Level amid Positive Sentiment form U.S. Nonfarm Payroll.
The analyst expected SET Index to move in sideways trends to test the 1,600 level again. Meanwhile, stock markets in China, Hong Kong and Australia closed for holiday.
As of 9:30 local time in Thailand, Nikkei rose 0.84%, TOPIX increased 0.56% and Kospi gained 0.11%.
Last Friday, Dow Jones closed 0.52% higher. S&P 500 increased 1.18% and Nasdaq rose 1.76% amid a strong recovery in U.S. job growth last month. The Labor Department reported that nonfarm payrolls increased by 916,000 in March, the highest since August 2020 and beat economists forecast of 675,000.
SET Index closed at 1,596.27 points, increased 1.15 points or 0.07% with a trading value of 76.5 billion baht.
CGS-CIMB expected SET Index to move in sideways trends to test the 1,600 level again, buoyed by the positive session in Asia markets, as well as Dow Jones Futures that extended its gain by another 200 points in response to the better-than-expected nonfarm payroll amid vaccine rollout. Nevertheless, CGS-CIMB stated that the Thai stock market could face profit-taking in the process of reaching 1,600 points.