Tuesday, July 07, 2020

Thai stocks buoyant amid hopes of further easing of lockdown

May 27. 2020
Facebook Twitter

By The Nation

The Stock Exchange of Thailand (SET) Index opened at 1,341.34, up 5.25 points, or 0.39 per cent, on Wednesday morning (May 27).

A stock analyst at Krungsri Securities expected the index to rise to 1,345 points before falling on hopes of an economic recovery after several countries eased lockdown measures.

Meanwhile, the price of crude oil increased after several countries issued economic stimulus measures to deal with the Covid-19 impact.

“Investors expect the Thai government to announce the third phase of lockdown easing within the end of this week,” the analyst said.

However, the index would be under pressure from tensions between US and China on enforcing a new national security law in Hong Kong as well as the tight SET valuation.

He recommended investors buy: 

● Energy stocks which will benefit from rising crude oil price, such as PTT, PTTEP, TOP, PTTGC, IRPC and SPRC. 

● 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.

Tags:
Facebook Twitter
More in Business
Editor’s Picks
wmg-logo
Top News
wmg-logo