SET rises slightly, but worries over US-China conflict cast shadow
The Stock Exchange of Thailand (SET) Index rose by 2.45 points, or 0.19 per cent, to 1,313.11 in the morning session on Tuesday (September 1).
An analyst at Krungsri Securities expected the index to fall between 1,300 and 1,305 due to lack of positive sentiment to boost investment.
"Besides, the index would be under pressure from the slump in the US Dow Jones Index that fell sharply by 224 points after China implemented new rules on technology exports," the analyst said.
"This negative sentiment caused ByteDance to request approval from their country before selling the TikTok business to the US, resulting in mass sell-offs in stocks which aimed to buy the TikTok business, such as Microsoft, Walmart and Oracle."
The analyst added that foreign investors' mass sell-off of Thai shares also pressured the index.
He recommended that investors buy stocks whose third-quarter performance would improve, such as CPF, GFPT, TU, Asian, KCE, Hana, Delta, HMPro, Global, DoHome, Com7, JMT, CHG, BCH, PTG, PlanB, CBG and Tasco.
The SET Index closed at 1,310.66 yesterday (August 31), down 12.65 points or 0.96 per cent. Total transactions amounted to Bt54.005 billion with an index high of 1,333.30 and a low of 1,308.73.
