SET slumps despite progress in talks on new US economic stimulus measures
The Stock Exchange of Thailand (SET) Index fell by 5.44 points, or 0.43 per cent, to 1,267.99 in the morning session on Wednesday.
An analyst at Krungsri Securities expected the index to fluctuate between 1,265 and 1,280 points due to a lack of positive sentiments despite the progress in discussions on fresh US economic stimulus measures.
“The student-led protesters’ political rally and uncertainty over weak commercial banks’ third-quarter performance would pressure the index,” he pointed out.
He recommended investors buy the shares of:
> CRC, HMPro, JMart, Com7 and KTC that benefit from the government’s “Shop Dee Mee Kuen” (Shop and Payback) scheme.
> TU, PlanB, STGT, Com7, Asian and CBG, whose third-quarter performance is expected to grow.
The SET Index closed at 1,273.43 on Monday, up 6.29 points, or 0.50 per cent. Total transactions amounted to Bt46 billion, with an index high of 1,277.64 points and a low of 1,265.27.
The index on Tuesday was closed for His Majesty the late King Bhumibol Adulyadej the Great Memorial Day.
