THURSDAY, March 28, 2024
nationthailand

SET up slightly amid US protests and Trump conflict with China

SET up slightly amid US protests and Trump conflict with China

The Stock Exchange of Thailand Index opened at 1,356.50, up 13.65 points, or 1.02 per cent, this morning (June 1).

A Krungsri Securities stock analyst expected the index to fluctuate between 1,330 and 1,350 points due to uncertainty amid protests over police brutality after the US announced curfew in many states.
“Meanwhile, investment will come under pressure due to tensions between the United States and China after the US terminated its trade relationship with Hong Kong in response to Beijing’s new national security law,” the analyst said.
However, the index will rebound after Thailand’s House of Representatives approved three loan decrees worth Bt1.9 trillion and the rising crude oil price, he said.
“Energy and petrochemical stocks will gain positive sentiment as the price of crude oil rose more than US$35 [Bt1,111] per barrel after the number of oil and gas rigs in US fell to the lowest in history,” he added.
He recommended investors buy: 
▪ Energy stocks which will benefit from the rising crude oil price, such as PTT, PTTEP, Top, PTTGC, IRPC, SPRC and IVL.
▪ Stocks which will benefit from the government’s tourism stimulus measures, such as Mint, Centel, ERW and AOT. 
▪ Stocks whose second quarter performance will improve, such as CKP, Tasco, STA and RS.

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