Asian Stocks Trade Mixed, FSS Expects SET to Remain Positive on Vaccine Rollout
Stocks in Asia traded in a mixed session on Wednesday after OPEC+ agreed on easing production cuts and Wall Street saw a slight change last night.
As of 9:02 local time in Thailand on June 2, 2021, Nikkei rose 0.31%, SSEC fell 0.23%, HSI dipped 0.18%, ASX 200 gained 0.67% and Kospi increased 0.32%.
Over the night, Dow Jones edged 0.13% higher to 34,575.31 points, while S&P 500 and Nasdaq closed lower by 0.05% and 0.09%, respectively.
Yesterday, SET Index closed at 1,618.59 points, increased 25.00 points or 1.57% with a trading value of 116 billion baht.
On June 1, 2021, OPEC and its allies, known as OPEC+, in the meeting on June 1, 2021, agreed to ramp up the oil production within its group by 2.1 million barrels per day (bpd) as oil prices rebounded amid a recovery in demand.
Finansia Syrus Securities (FSS) expected SET Index to move in sideways to sideways-up trends in a range of 1,606-1,630 points, buoyed by the positive sentiment after the index broke and closed above the resistance level at 1,600 points yesterday.
Nevertheless, FSS expected the energy sector to slow down after a huge gain in response to higher oil prices yesterday.
In the meantime, the Thai stock market continued to gain positive momentum on the vaccine rollout despite daily Covid-19 cases that remained at a high level.