Tuesday, September 29, 2020

SET rises on news of Russian Covid-19 vaccine, advancing oil price

Aug 13. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index rose by 12.75 points, or 0.95 per cent, to 1,349.59 this morning (August 13).

A stock analyst at Krungsri Securities expected the index to rise between 1,345 and 1,350 before falling as Russia claimed to have successfully developed a Covid-19 vaccine, while the price of oil rose more than US$42 (Bt1,305) per barrel.

However, the analyst said the index would be under pressure from uncertainty following a planned $1-trillion US economic stimulus package, and US-China trade negotiations this Saturday.

The SET Index closed at 1,336.84 on Tuesday, up 14.83 points, or 1.12 per cent. Total transactions amounted to Bt71.98 billion, with an index high of 1,343.16 and a low of 1,332.24 points.

The analyst recommended that investors buy:

> Stocks whose second-quarter performance will improve, such as SPRC, BGrim, CPF, STA, STGT, AJ, JMT, Chayo, PTG and BCH.

> Energy stocks that benefit from the rising crude oil price, such as PTT, PTTEP, Top, PTTGC, SPRC and IVL.

> Tourism and hotel stocks that benefit from news of Russia’s Covid-19 vaccine, such as AOT, Mint, Centel and ERW.

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