Coronavirus scare chills SET, other Asian markets
The Stock Exchange of Thailand index remained in a slump on Thursday morning (January 23), down about 0.4 per cent following a fall Wednesday.
Tisco Financial Group is predicting a narrow swing between a support level of 1,565-1,570 and a resistance level of 1,585 from Wednesday’s close of 1,574.59.
It cited several contributing factors for the muted trade, including concerns about the Wuhan coronavirus, an expected delay in disbursing the budget for fiscal 2020 and a lowered project for world economic growth from the International Monetary Fund.
Tisco is recommending investment in STEC, SEAFCO, PYLON, COMM, CPALL, BJC, BBL, KKP, SCB and AEONTS.
Coronavirus concerns dropped both Japan’s Nikkei 225 and South Korea’s Kospi about 1 per cent, the Shanghai Composite index and Hong Kong’s Hang Seng by more than 2 per cent and the Shenzhen Composite about 3 per cent.
There have been reports suggesting that thousands in Wuhan, public transit has been suspended, might be infected, rather than the official tally of 571.