Domestic political situation limits SET's upside potential
The Stock Exchange of Thailand (SET) Index rose by 3.74 points, or 0.29 per cent, to 1,283.70 in morning session on Monday (September 14).
An analyst at Krungsri Securities expected the index to fluctuate between 1,275 and 1,290.
"Although the index gained positive sentiment from the recovery in foreign indices, uncertainty over the domestic political situation, especially with student protesters planning a political rally on September 19, would cause market volatility," the analyst said.
"Also, investors would delay investment to follow the discussions of the US Federal Open Market Committee meeting on September 15-16."
He recommended that investors buy:
▪︎Stocks whose third-quarter performance will improve, such as TU, ASIAN, COM7, CHG, PTG, and PLANB.
▪︎Stocks that would benefit from the launch of the new iPhone model on September 15, such as COM7, SYNEX, SPVI and CPW.
The SET Index dropped further on Friday to close at 1,279.96, down 10.93 points or 0.85 per cent. Total transactions amounted to Bt44.155 billion with an index high of 1,296.13 and a low of 1,279.33.
