Analyst Expects SET to Fluctuate as Investors Monitor Covid-19 Development

Stocks in Asia traded mostly higher on Monday, April 26, 2021, amid rising Covid-19 cases in India while the U.S. has consistently positive economic reports.

 

As of 9:50 local time in Thailand, Nikkei rose 0.27%, SSEC increased 0.46%, HSI gained 0.21%, ASX 200 dropped 0.10% and Kospi hiked 0.54%.

Last Friday, SET Index closed at 1,553.59 points, decreased 14.62 points or 0.93% with a trading value of 86.1 billion baht.

 

Tisco Securities expected the Thai stock market this morning to fluctuate from the spread of COVID-19 in the country. The number of people infected with COVID-19 was more than 2,000 per day, and the need for more intensive control measures has to be taken with the closure of many vulnerable locations aiming to affect retail, tourism, and domestic consumption.

In the regional markets this morning, there was a mixed positive-negative swing, while the US economy has consistently positive reports. As for Thailand, Tisco Securities expected to underperform global stock markets due to the severe COVID outbreak. This week, the analyst advised to follow the announcement of the Real Sector budget and the Fed-BOJ meeting with the next support level of 1,550 and 1,540-1,530. The resistance level is at 1,565 points.