SET buoyed by Biden victory in US presidential election
The Stock Exchange of Thailand (SET) Index rose by 18.92 points, or 1.50 per cent, to 1,279 in the morning session on Monday.
An analyst at Krungsri Securities expected the day's index to rise to between 1,270 and 1,275 in response to former vice president Joe Biden winning the US presidential election, which will be a positive sentiment for global trade and the rollout of economic stimulus measures.
"However, surging global Covid-19 cases and market volatility due to listed companies' third-quarter business turnover announcements would pressure the index," he said.
He recommended that investors buy:
▪︎ IVL and PTTGC that benefit from improving global trade.
▪︎ STGT, STA, CBG, IVL, EPG, AP, COM7, SYNEX, ASIAN, HANA, SVI and TVO, whose third-quarter performances are expected to improve.
The SET Index closed at 1,260.08 on Friday, down 4.24 points, or 0.34 per cent. Total transactions amounted to Bt73.52 billion with an index high of 1,270.22 and a low of 1,251.08.
