Hong Kong leads Asian shares higher

RECAP: Hong Kong stocks led gains among most Asian equities yesterday, but Japanese stocks posted a weekly decline as new Prime Minister Shigeru Ishiba’s seemingly shifting stance on interest rates unsettled investors.
The SET index moved in a range of 1,432.22 and 1,468.14 points this week, before closing yesterday at 1,444.25, down 0.4% from the previous week, with daily turnover averaging 59.6 billion baht.
Institutional investors were net buyers of 11.26 billion baht, followed by retail investors at 57.08 million. Foreign investors were net sellers of 10.81 billion baht, followed by brokerage firms at 513.71 million.
NEWSMAKERS: US Federal Reserve chairman Jerome Powell said the central bank is likely to reduce interest rates by 25 basis points each at its final two meetings of the year, or 50bps in total, if economic data is as expected. The Fed will not rush, he said, as new data shows continued growth in the economy and spending.
COMING UP: On Monday, euro zone finance ministers will meet to discuss the economy, and Britain will release retail sales data. On Tuesday, the Reserve Bank of New Zealand will hold a rate meeting and the US will report monthly trade statistics.
STOCKS TO WATCH: InnovestX Securities recommends three investment themes. First is stocks expected to benefit from the Vayupak Fund, including SET100 firms with dividend yields of at least 3.5%, good ESG ratings and with profit expected to grow in 2025. Its picks are KTB, BBL, BCP, ADVANC and HMPRO.
TECHNICAL VIEW: Krungsri Capital Securities sees support at 1,430 points and resistance at 1,470. Daol Securities sees support at 1,440 and resistance at 1,480.