By The Nation
A stock analyst at Krungsri Securities expected the index to fluctuate between 1,350 and 1,365 due to a lack of new positive sentiments to stimulate investment.
"The index would be under pressure from the conflict between US and China after the US ordered China to close its consulate in Houston within 72 hours to protect American intellectual property and personal information, while China will close the US consulate in Wuhan to counter the US move as well," the analyst said.
"Besides, the increasing number of Covid-19 cases, especially in the US that increased by approximately 70,000 people per day would pressure the index."
The analyst added that the index would rebound from mass buy-ups in stocks whose second-quarter performance will improve.
He recommended that investors buy:
▪︎ Food and electronics stocks that benefit from the weakening baht, such as TU, CPF, GFPT, TFG, ASIAN, KCE, DELTA, HANA and SVI.
▪︎ Stocks whose second-quarter performance will improve, such as TOP, PTTGC, SPRC, SCC, BGRIM, CKP, CPF, TU, TASCO, STA, STGT, SPALI, AP, PRM, PTL, AJ, STARK, CBG and TQM.
▪︎ Energy stocks that benefit from rising crude oil price, such as PTT, PTTEP, TOP, PTTGC, IRPC, SPRC and IVL.
The SET Index closed on Wednesday (July 22) at 1,357.04, down 19.96 points or 1.45 per cent. Total transactions amounted to Bt63.863 billion with an index high of 1,382.29 and a low of 1,356.86.