Stocks in Asia Rise, Following the Gain in Wall Street and Oil Prices

Stocks in Asia market edged higher on Tuesday, following the rise in Wall Street and oil price over the night.

 

As of 9:36 local time in Thailand on May 25, 2021, Nikkei rose 0.58%, SSEC jumped 1.26%, HSI advanced 1.00%, ASX 200 increased 0.71% and Kospi gained 0.69%.

Last night, Brent Crude rose 2.9% to $68.40 a barrel, and WTI increased 3.7% to $65.94 a barrel.

Meanwhile, Dow Jones closed at 34,393.98 points, increased 186.14 points or 0.54%. S&P 500 gained 0.99% and Nasdaq rose 1.41%.

 

The analyst expected the Thai stock market to rise in line with most regional markets, following the gain in the technology sector, oil prices and the rebound in bitcoin. However, the movement in the Thai stock market whether to increase more or less would be depending on the matter of vaccine rollout.

Moreover, many markets in Asia will be closed tomorrow. After that, MSCI will reduce the weight of investing in Thai stocks. Therefore, the market may choose to play individual stocks, but big-cap stocks would remain stable.

In addition, the analyst suggested investors to follow the export-import data of Thai trade today, which is expected to be better, resulting in the gain in shipping and electronic sector, giving a support level at 1,540-1,535 points and a resistance level at 1,560-1,570 points.