SET soars amid good progress in Covid-19 vaccine, hopes for global trade from Biden's victory
The Stock Exchange of Thailand (SET) Index rose by 31.15 points, or 2.42 per cent, to 1,317.03 in the morning session on Tuesday.
An analyst at Krungsri Securities expected the day's index to rise to between 1,300 and 1,310 from good progress in developing a Covid-19 vaccine, hopes of a global trade recovery after former vice president Joe Biden won the US presidential election, and the rising oil price.
However, he warned investors to beware of market volatility from listed companies' third-quarter business results and short-term mass sell-offs of stocks.
"We expect positive sentiment from progress in developing a Covid-19 vaccine would help boost recovery in economic activities, demand for fuels and mass buy-ups in large-cap stocks," he said
He recommended that investors buy STGT, STA, EPG, AP, COM7, SYNEX, ASIAN, HANA, SVI and TVO, whose third-quarter performances are expected to improve.
The SET Index closed at 1,285.88 on Monday, up 25.80 points or 2.05 per cent. Total transactions amounted to Bt77.89 billion with an index high of 1,293.90 and a low of 1,277.52.
