Daily Strategy: ASL Warns Investors of Fluctuation over Upcoming Fed’s Meeting and Holiday

Stock markets in Asia traded in a mixed session  on Tuesday despite Wall Street closing higher last night, while major markets in Asia are closed for holiday.


As of 9:46 local time in Thailand on Tuesday, Hang Seng Index fell 0.65%, ASX 200 decreased 0.14%, while Kospi rose 0.53% and IDX Composite increased 0.45%.

Markets in China, Japan, Singapore and India are closed for holiday.

Thailand’s SET Index opened at 1,665.14 points, decreased 2.30 points or 0.14%.


Wall Street finished higher on Monday after the Dow Jones and S&P 500 had their worst performance last month since March 2020, while the Nasdaq Composite had its worst month since 2008.

Dow Jones closed 0.26% higher at 33,061.50 points. S&P 500 finished 0.57% higher and Nasdaq gained 1.63%.


Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co., Ltd., through “Kaohoon Jor Talad Program” on May 3, 2022, stated that the market will fluctuate over the upcoming Fed’s meeting for a rate hike, while Thailand’s stock market will be closed tomorrow as well, seeing a support level at 1,650 points and a resistance level at 1,670 points.

Mr. Suktae recommended SNNP (S18/R19.90-20), IIG (S35/R39) and TOP (S55/R60). In addition, Mr. Suktae added that coal stocks (BANPU) are still attractive due to the situation in Ukraine. Meanwhile, tourism and hospital stocks will benefit from the border reopening.