Major stock markets in Asia traded in a mixed session on January 26, 2022, as the market continued to watch the U.S. Federal Reserve second day of meeting to conclude later today, while the conflict at the Ukrainian border has yet to ease.
Thailand’s SET Index opened at 1,646.24 points, increased 7.15 points or 0.44%.
As of 10:05 local time in Thailand, Nikkei fell 0.40%, SSEC gained 0.62%, Hang Seng Index increased 0.54% and IDX Composite dipped 0.022%.
The stock market in Australia and India are closed for holiday.
Mr. Chaiyot Jiwangkul, Assistant Director of Krungsri Securities (KSS), through “Kaohoon Jor Talad Program” on January 26, 2022, stated that the recovering range for SET Index should be around 1,645-1,650 points while expecting short covering from a series of decline in recent days. The banking sector should lead the recovery as well as the energy sector that saw a rebound in oil prices yesterday.
As for the conflict between Russia, Ukraine, U.S. and NATO, Mr. Jiwangkul expected to end up with a negotiation rather than a confrontation. The driver to oil prices should be solely on the economic recovery from the omicron outbreak.