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SET rises on hopes of 3rd phase lockdown easing

May 25. 2020
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By The Nation

The Stock Exchange of Thailand Index opened at 1,310.56, up 6.59 points, or 0.51 per cent, this morning (May 25).

A Krungsri Securities stock analyst expected the index to fluctuate between 1,290 and 1,315 points due to lack of positive sentiment to stimulate investment and uncertainty amid a US-China trade war.

“The market will gain positive sentiment from the third phase of lockdown easing after the number of Covid-19 cases in Thailand remained stable,” the analyst pointed out.

However, the index would come under pressure from tight SET valuation and uncertainty following tense relations between the US and China with Beijing aiming to impose a national security law in Hong Kong.

“Investors are also concerned about the economy amid the Covid-19 crisis after China abandoned setting a target for GDP growth this year,” the analyst said.

He recommended investors buy:

● Stocks whose second quarter performance will improve, such as CKP, Tasco, STA, RS and EPG.

● Stocks which will benefit from the third phase of lockdown easing, such as Major, SPA and AU.

● Stocks which have been added to the MSCI calculation – AWC, BAM and KTC.

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