SET slides on US-China tensions, delay in US stimulus package
The Stock Exchange of Thailand (SET) Index fell by 1.39 points, or 0.10 per cent, to 1,328.72 in the morning session today (August 19).
A stock analyst at Krungsri Securities expected the index to fluctuate between 1,320 and 1,340 points due to a lack of positive investment sentiment.
“Besides, uncertainty following US-China tensions after the US announced further restrictions on China’s Huawei, and a delay in rolling out a new US economic stimulus package would pressure the index,” he said.
“We advise investors to follow a joint Opec+ meeting today,” he added.
He recommended that investors buy:
> Stocks that benefit from the rising crude oil price, such as PTTEP, PTTGC, Top and IVL.
> Stocks that benefit from lockdown easing and progress in the development of a Covid-19 vaccine, such as CRC, CPN, HMPro, Global, Com7, DoHome, AOT, Mint, Centel and ERW.
The SET Index closed at 1,330.11 yesterday, up 9.20 points, or 0.70 per cent. Total transactions amounted to Bt50.85 billion, with an index high of 1,330.40 and a low of 1,321.07.
