Tuesday, September 29, 2020

Market sluggish amid delay in US stimulus package, US-China talks tomorrow

Aug 14. 2020
Facebook Twitter

By The Nation

The Stock Exchange of Thailand (SET) Index fell by 1.83 points, or 0.14 per cent, to 1,344.86 on Friday morning (August 14).

A stock analyst at Krungsri Securities expected the index to fluctuate between 1,340 and 1,355 despite the index gaining positive sentiment from positive Covid-19 vaccine news.

"The index would be under pressure following the stand-off on the $1-trillion US economic stimulus package, while investors would delay trade to follow the outcome of US-China trade negotiations on Saturday [August 15]," the analyst said.

The SET Index rose by 9.85 points, or 0.74 per cent, closing at 1,347 at close on Thursday, while transactions amounted to Bt77.8 billion. Positive news on a Covid-19 vaccine encouraged investors to buy tourism and logistics shares.

Meanwhile, there were mass buy-ups in bank shares after a sharp drop in price.

He recommended that investors buy:

▪︎ Energy stocks that benefit from rising crude oil price, such as PTTEP, PTTGC, TOP and IVL.

▪︎ Tourism and hotel stocks that benefit from positive Covid-19 vaccine news, such as AOT, MINT and CENTEL.

Facebook Twitter
More in Business
Editor’s Picks
Top News