By THE NATION
A stock analyst at Krungsri Securities expected the index to rebound to between 1,270 and 1,280, as the US and China will discuss the first phase of a trade agreement next week.
“Meanwhile, economic activities and investment would benefit as Thailand is preparing to ease more lockdown measures on May 17, as the number of new Covid-19 cases in Thailand has dropped significantly,” the stock analyst said.
“However, the number of registrants for unemployment welfare in the US rose by 3.17 million people to 33.5 million people, and the mass sell-offs of stocks due to uncertainty following the decline in companies’ first-quarter performance would plunge the index.”
He suggested investors make selective buys from four groups of stocks:
● Retail stocks that would benefit from the second phase of the country easing the lockdown, such as CRC, CPN, HMPRO, GLOBAL and COM7.
● Stocks that would benefit from weather forecasts that the rainy season would begin in the middle of May, such as EASTW, CKP, GPSC, GULF and BGRIM.
● ICT and food stocks that have escaped the severe impact of the outbreak, such as ADVANC, INTUCH, DTAC and CPF.
● Stocks whose first-quarter performance are expected to improve, such as CPF, IVL, BCPG, GPSC and RS.