Strong US economic data boosts SET sentiment
The Stock Exchange of Thailand (SET) Index opened on Wednesday (July 1) at 1,345.28, up 6.25 points, or 0.47 per cent.
A stock analyst at Krungsri Securities expected the index to fluctuate between 1,330 and 1,350 due to lack of new factors to boost investment.
“The market gained positive sentiment from strong US economic data as the US house price index in April rose by 4.7 per cent year on year, while the US consumer confidence index in June rose to 98.1,” the analyst said.
“However, the index is still under pressure from uncertainty following the second wave of coronavirus as the number of new cases in the US is still increasing.”
He recommended investors buy:
- Energy stocks that benefit from a rising crude oil price, such as PTT, PTTEP, Top, PTTGC, IRPC, SPRC, and IVL.
- Stocks whose second-quarter performance will improve, such as CKP, Tasco, and STA.
- Stocks that benefit from the Cabinet’s domestic tourism stimulus measures, such as MINT, CENTEL, ERW, AOT, and AAV.
The SET Index rose by 9.27 points, or 0.70 per cent, on Tuesday, closing at 1,339.03. Total transactions amounted to Bt58 billion.
