Stocks in Asia Trade Higher after Wall Street Snaps 3-Day Losing Streak Overnight

Stocks in Asia bounced back on Friday after Wall Street snapped its 3-day losing streak last night.

 

As of 9:28 local time in Thailand on May 14, 2021, Nikkei jumped 1.40%, SSEC increased 0.16%, HSI rose 0.43%, ASX 200 advanced 0.84% and Kospi gained 0.59%.

Last night, three major stock indexes in the U.S. snapped their three-day losing streak as investors calmed down over rate hike concerns. Dow Jones rose 1.29%, S&P 500 gained 1.22% and Nasdaq increased 0.72%.

 

Tisco Securities expected the Thai stock market to fluctuate, but could make a rebound in a limited range due to the prolonged Covid-19 situation in the country. Meanwhile, most of the regional stock markets moved in a positive direction led by Japan and Korea stock markets.

The analyst stated that the market started to relax after the announcement of a decline in jobless claims in the U.S. to 473,000, which was also lower than the economists had estimated.

In addition, the analyst gave a support level for today’s session at 1,530 points and a resistance level at 1,562 points.