Thursday, October 22, 2020

SET falls despite market’s ‘risk-on’ state

Sep 29. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index dropped by 0.65 points, or 0.05 per cent, to 1,262.37 in the morning session on Tuesday.

An analyst at Krungsri Securities expected the index to rise to between 1,270 and 1,275 points as investors were ready to take more risks to gain increased returns, leading to a rise in the global stock market.

“Meanwhile, bank shares have shown signs of recovery for the first time amid the Covid-19 crisis,” he pointed out.

“Therefore, we expect the share price in the laggard group, such as bank and energy shares, to rise, while share prices in the leading group of electronics and agriculture are expected to slow down.”

He recommended investors buy:

> Bank stocks that have shown signs of recovery, such as KBank, SCB and BBL.

> Stocks that were involved in block trade, such as CBG, KTC and TKN.

> Stocks that benefit from a Covid-19 vaccine development, such as AOT, Centel, Mint and ERW.

The SET Index closed at 1,263.02 on Monday, up 18.08 points, or 1.45 per cent. Total transactions amounted to Bt41.29 billion, with an index high of 1,264.50 points and a low of 1,251.12.

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