Wednesday, November 25, 2020

SET drops almost 1 per cent despite hopes of US economic stimulus measures

Oct 19. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index fell by 11.80 points, or 0.96 per cent, to 1,221.88 in the morning session on Monday.

An analyst at Krungsri Securities expected the index to fluctuate between 1,225 and 1,245 despite hopes of US economic stimulus measures being launched before the presidential election.

"Uncertainty over Thailand's political unrest, as anti-government protesters plan to hold rallies in many places nationwide, would pressure the index," he said.

As an investment strategy, he recommended that investors buy:

▪︎ PTTGC, IVL and TOP that will benefit from the rising oil price.

▪︎ TU, STGT, CBG, SCC, IVL, COM7, ASIAN, DELTA and HANA, whose third-quarter performance is expected to grow.

The SET Index closed at 1,233.68 on Friday, down 9.28 points, or 0.75 per cent. The volume of total transactions was Bt44 billion with an index high of 1,247.89 and a low of 1,226.95.

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