Thursday, July 09, 2020

SET rises on hopes for Covid-19 vaccine, 3rd phase lockdown easing

May 26. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index opened at 1,334.56, up 13.58 points, or 1.03 per cent, this morning (May 26).

A stock analyst at Krungsri Securities expected the index to rise to between 1,330 and 1,335 points due to the progress seen in developing a Covid-19 vaccine and hopes for the third phase of lockdown easing.

“Novavax, a clinical-stage biotechnology company, has conducted the first phase of its Covid-19 vaccine trial, expecting to get results by July,” the analyst pointed out.

He said that economic activities and investment would also gain positive sentiment from the Centre for Covid-19 Situation Administration’s third phase of lockdown easing by the end of this week.

“However, the index would be under pressure from uncertainty following a renewed trade war after the US said it might sanction China if Beijing imposes a national security law in Hong Kong,” 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 and SPA.

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

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