SET rebounds over China’s plan to discuss trade pact with US
The Stock Exchange of Thailand (SET) Index rose by 8.75 points or 0.67 per cent to 1,305.54 in the morning session today (August 21).
A stock analyst at Krungsri Securities said he expected the index to fluctuate between 1,290 and 1,305 despite positive sentiment from China’s intention to hold a meeting with the US to review the first phase of trade agreement.
“The index will be under pressure from uncertainty over the impact Covid-19 is having on US economic data and political situation in Thailand," the analyst said.
He recommended that investors buy:
- Stocks that benefit from weakening baht, such as CPF, GFPT, TU, KCE, HANA and DELTA.
- Domestic play stocks, such as ADVANC, INTUCH, HMPRO, GLOBAL, DOHOME, COM7 and CRC.
SET Index closed at 1,297 yesterday, down 12 points or 0.91 per cent, while total transactions tallied at Bt49 billion due to uncertainty following the economic slowdown after the US Federal Reserve forecast that the US economy still faces risks from the Covid-19 pandemic.
