Major stock markets in Asia continued to trade lower on Tuesday as investors still weighed heavily on inflation concerns, which could lead to a more aggressive move by the U.S. Federal Reserve.
As of 10:30 local time in Thailand on May 10, 2022, Nikkei dropped 0.93%, SSEC increased 0.44%, Hang Seng Index fell 2.71%, ASX 200 decreased 1.58% and IDX Composite plunged 3.03%.
Thailand’s SET Index opened at 1,599.47 points, decreased 5.02 points or 0.31%.
Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities Co., Ltd., through “Kaohoon Jor Talad Program” on May 10, 2022, stated that the market is still being pressured by the Fed’s rate hike, but should not be as intense as yesterday. Seeing Dow Jones edging lower near its previous low, Mr. Suktae said that the market this week should be on a rebound trend. A drop of SET Index below 1,600 points will be an attractive position for investors.
In addition, Mr. Suktae recommended SCGP (S48.75), SCC (S350/R375), while adding that refining, tourism and commerce should be able to speculate.