SET rises on mass US tech share buy-ups, rising oil price, more vaccine trials
The Stock Exchange of Thailand (SET) Index rose by 0.78 points, or 0.06 per cent, to 1,294.18 in the morning session today (September 10).
An analyst at Krungsri Securities expected the index to rebound between 1,300 and 1,305 points before falling in response to a rise in the US Dow Jones Index.
“The Dow Jones Index skyrocketed over 1.6 per cent after investors went in for mass buy-ups of stocks with prices that dropped sharply, especially technology ones,” he explained.
“Also, the index gained positive sentiment from a rising oil price and news that AstraZeneca would resume its third phase of Covid-19 vaccine clinical trials next week.”
The analyst advised investors to buy stocks for speculation as uncertainty amid an intensifying US-China trade war and a lack of domestic factors would pressure the index.
He recommended investors buy:
> Stocks whose third-quarter performance would improve, such as TU, Asian, Com7, CHG, PTG and PlanB.
> Electronic shares that benefit from the recovery in technology stocks and the launch of a new iPhone on September 15, such as Hana, Delta, KCE Com7, JMart, Synex, SPVI and CPW.
The SET Index closed at 1,293.40 yesterday, down 0.40 points, or 0.03 per cent. Total transactions amounted to Bt47.5 billion, with an index high of 1,295.55 points and a low of 1,276.38.
