Monday, November 30, 2020

SET falls amid doubts over fresh US economic stimulus measures

Oct 22. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index fell by 5.70 points, or 0.47 per cent, to 1,210.78 in the morning session on Thursday.

An analyst at Krungsri Securities expected the index to fall to 1,210 points due to uncertainty over fresh US economic stimulus measures.

“The market expected the rollout of the latest stimulus bill to be delayed after added conflict between the Democrats and the Republicans,” he said.

“Meanwhile, the falling oil price due to the second Covid-19 wave, Thailand’s political unrest and mass sell-offs in stocks before the upcoming three-day holiday would pressure the index,” the analyst pointed out.

He recommended investors buy shares of TU, STGT, CBG, SCC, IVL, Com7, Synex, Asian, Delta, Hana, SVI and TVO, whose third-quarter performance is expected to grow.

The SET Index closed at 1,216.48 on Wednesday, up 5.81 points or 0.48 per cent. Total transactions amounted to Bt54 billion, with an index high of 1,222.62 points and a low of 1,211.85.

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