SET falls from gloomy Fed prediction, 2 new domestic Covid-19 cases
The Stock Exchange of Thailand (SET) Index fell by 6.49 points, or 0.50 per cent, to 1,302.18 in the morning session today (August 20).
A stock analyst at Krungsri Securities expected the index to fall between 1,300 and 1,305 points after the US Federal Reserve predicted US economic uncertainty amid the Covid-19 fallout and said it was imperative that a new economic stimulus package was rolled out.
“Besides this, the index will come under pressure from two new domestic Covid-19 cases in Thailand yesterday,” he said.
He recommended that investors buy:
> Stocks that benefit from a weakening baht, such as CPF, GFPT, TU, KCE, Hana and Delta.
> Domestic play stocks, such as Advanc, Intuch, HMPro, Global, Dohome and Com7.
The SET Index closed at 1,308.67 yesterday, down 21.44 points, or 1.61 per cent, while total transactions amounted to Bt57.28 billion, with an index high of 1,332.79 points and a low of 1,301.97.
