SET Index rises on hopes of US economic stimulus measures

A stock analyst at Krungsri Securities expected the SET Index to move between 1,250 and 1,285.
“Although the global markets have recovered due to investors’ hopes that the US would issue economic stimulus measures, details of these measures are still unclear,” the stock analyst said.
“Therefore, we believe that this factor would benefit the market in the short term, while there is a risk that the market would fluctuate again if the US does not issue these measures.”
The analyst said that Thailand’s economic stimulus measures approved by the Cabinet on Tuesday (March 10) would not benefit the market because these were focused on helping entrepreneurs affected by the Covid-19 outbreak instead of boosting the economy or purchasing power.
“Therefore, we expected that the index would fluctuate like yesterday,” the stock analyst said.
The analyst recommended four groups of stocks for investors:
● Stocks which would benefit from the declining oil price, such as TASCO and EPG.
● Hotel and retail stocks, which would benefit from the economic Cabinet’s approval of Bt100 billion economic stimulus measures, such as CENTEL, ERW, CPALL, HMPRO, and BJC.
● Financial stocks, which responded to reduced financial costs due to interest rate cut trends, such as MTC, SAWAD, and KTC.
● Defensive stocks which pay high dividends, such as ADVANC, INTUCH, and TTW.