Positive factors push SET index past 1600 in morning trade
The Stock Exchange of Thailand Index surged past 1,600 in morning trading today (January 3) before receding in the afternoon session.
The SET surge was generally attributed to the more than 1 per cent jump in US equities with the Dow Jones and Nasdaq closing at record highs yesterday (January 2) on their first trading day of 2020.
Meanwhile, tensions in the Middle East between the United States and Iran pushed up world crude prices. In Thailand, investors are now less concerned about the strengthening baht after the Thai currency moved back to Bt30 / dollar from Bt29 in the New Year period.
Analysts at Tisco Research today forecast that the SET index may face new resistance barrier at 1610-1620 while lower bound is estimated at 1590. Rising oil prices make shares of HANA, PTTEP, TOP, IRPC and SPRC attractive, said Tisco Market Insight report.
They also suggested investors look for investment opportunities in shares of ADVANC, INTUCH, AP,QH, LH , BBL, KKP, SCB, MAJOR, SCC, TTW and TVO, which usually pay high dividends to shareholders.
