Major stock markets in Asia traded mostly higher on Wednesday, rebounding from earlier losses in this week.
As of 10:13 local time in Thailand, Nikkei rose 1.73%, SSEC fell 0.60%, Hang Seng Index gained 1.76%, ASX 200 increased 0.88% and IDX Composite edged 0.58% higher.
Thailand’s SET Index opened at 1,655.23 points, increased 10.87 points or 0.66%.
Mr. Chaiyot Jiwangkul, Assistant Director of Krungsri Securities (KSS), through “Kaohoon Jor Talad Program” on March 16, 2022, stated that he expected a technical rebound in SET Index amid the ongoing war between Russia and Ukraine despite reports of continuous talks. Meanwhile, economic growth could derail because of sanctions, especially after the U.S. had warned China to not provide aid to Russia, which could lead to another trade war.
As for policy rate, Mr. Jiwangkul expected the Bank of Thailand to hike interest rates possibly later this year, and the currently low interest rate could benefit Thai banks on loan growth. Meanwhile, the economic recovery would lead to lower NPL.
Mr. Jiwangkul recommended KBANK and TTB for the banking sector and SCGP on relaxing concerns of higher oil prices.
