SET rises on hopes of Biden win, US economic stimulus rollout, rising oil price
The Stock Exchange of Thailand (SET) Index rose by 7.41 points, or 0.61 per cent, to 1,228.74 in the morning session on Wednesday.
An analyst at Krungsri Securities expected the day’s index to hit 1,230 points before falling on hopes that former vice president Joe Biden will win the US presidential election, as well as the rollout of US economic stimulus measures after the election and the rising oil price.
“However, investors should beware of market volatility and mass sell-offs in stocks in line with technical indicators,” he said.
He recommended investors buy:
> PTTGC, IVL and Top that benefit from the rising oil price.
> TU, STGT, STA, CBG, IVL, EPG, AP, Com7, Synex, Asian, Hana, SVI and TVO, whose third-quarter performance is expected to improve.
The SET Index closed at 1,221.33 on Tuesday, up 19.17 points, or 1.59 per cent. The volume of total transactions stood at Bt45 billion, with an index high of 1,222.78 points and a low of 1,209.90.
