Daily Strategy: FSS Expects Positive Earnings Season to Push SET Index above 1,700pts

Major stock markets in Asia traded mostly higher on Friday, recovering from yesterday’s plummet over hawkish move by the U.S. Fed.

On January 7, 2022, Thailand’s SET Index opened at 1,661.06 points, increased 8.03 points or 0.49%.

As of 10:25 local time in Thailand, Nikkei dropped 0.33%, SSEC rose 0.15%, Hang Seng Index increased 0.76%, ASX 200 gained 1.21% and IDX Composite edged 0.47% higher.

Yesterday, the stock markets traded lower after Federal Reserve officials said a stronger economic recovery and higher inflation could lead to earlier than expected and faster interest-rate increases than previously expected, with some policy makers also favoring starting to shrink the balance sheet soon after. The market is now pricing in an 80% possibility of a rate hike in March.


Mr. Kantara Ladawan na Ayutthaya, executive director of Finansia Syrus Securities (FSS), through “Kaohoon Jor Talad Program” on January 7, 2022, stated that the market should priced in the negative sentiment from yesterday, expecting the Thai stock market to make a rebound around 10 points.

Mr. Ladawan said that if the SET Index is able to break the 1,680 resistance level, the market could continue to surge above 1,700 points and the key catalyst should be the earnings report in upcoming months.

In addition, the analyst maintained his positive view on reopening stocks, such as banking, consumption, construction sectors.