FRIDAY, March 29, 2024
nationthailand

SET rises on hopes of economic stimulus measures

SET rises on hopes of economic stimulus measures

The Stock Exchange of Thailand (SET) Index rose by 10.13 points, or 0.80 per cent, to 1,273.84 in the morning session on Thursday.

An analyst at Krungsri Securities expected the index to rise to between 1,270 and 1,275 points before falling in response to the news that US President Donald Trump made a u-turn and is moving again to promote economic stimulus measures and inject cash to help the aviation industry and small businesses. Another positive factor is Thailand’s Centre for Economic Situation Administration (CESA) approving measures to stimulate expenses from October 23 to December 31.

However, the analyst warned investors to beware of mass sell-offs of shares by foreigners as this would still pressure the index.

He recommended investors buy the shares of:

> CRC, HMPro, JMart, Com7, KTC, Centel and Mint that will benefit from the CESA’s measures.

> Banpu and Age that are benefiting from a rising coal price in response to strong Chinese demand.

> TU, PlanB, STGT and Com7, whose third-quarter performance is expected to grow.

The SET Index closed at 1,263.71 on Wednesday, up 13.56 points, or 1.08 per cent, while transactions amounted to Bt52.31 billion, with an index high of 1,264.29 points and a low of 1,245.09.

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