SET dips from worries over Covid-19 impact on global economy, mass sell-offs before US election
The Stock Exchange of Thailand (SET) Index dropped by 0.64 points, or 0.05 per cent, to 1,194.31 in the morning session on Monday.
An analyst at Krungsri Securities expected the day's index to fall to between 1,185 and 1,205 due to European countries' second lockdown in response to rising Covid-19 cases, resulting in negative sentiment for the global economy.
"Also, mass sell-offs in stocks to reduce risks from the US presidential election tomorrow would pressure the index," he said, adding that the index would rebound from mass buy-ups in shares whose third-quarter performance is expected to improve.
He recommended that investors buy TU, STGT, STA, CBG, IVL, COM7, SYNEX, ASIAN, HANA, SVI and TVO, whose third-quarter performance is expected to improve.
The SET Index closed at 1,194.95 on Friday, down 6.69 points or 0.56 per cent. The volume of total transactions was Bt52.72 billion with an index high of 1,204.99 and a low of 1,187.49.
