Major stock markets in Asia traded in a mixed session on Tuesday as investors continued to monitor the upcoming U.S. inflation data and central bank policy outlook.
Thailand’s SET Index opened at 1,681.26 points, increased 4.02 points or 0.24%.
As of 10:12 local time in Thailand, Nikkei rose 0.43%, SSEC dropped 0.59%, Hang Seng Index fell 1.16%, ASX 200 gained 0.95% and IDX Composite increased 0.31%.
The market will monitor the inflation data closely this Tuesday as economists expected the U.S. to report a 7.3% inflation rate for January on Thursday. Meanwhile, markets are pricing five Fed rate hikes in 2022 with expectations for the March liftoff gradually moving toward 50bps.
Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co., Ltd., through “Kaohoon Jor Talad Program” on February 8, 2022, cautioned investors on the rising bond yield that rose above 1.9%. After the earnings season, the Fed’s rate hike could be an upside risk to the Thai stock market, thus, Mr. Suktae suggested investors adjust portfolios. Mr. Suktae recommended MTC (S56-56.50/R60), EA (S92-93/R98-100), BLA (S42/R47), giving a resistance level for SET Index at 1,680-1,690 points and a support level at 1,650-1,630 points.
