SET Index falls, faces pressure over US virus situation, overbought stocks
The Stock Exchange of Thailand (SET) Index fell by 8.37 points, or 0.62 per cent, to 1,336.97 in the morning session on Thursday.
An analyst at Krungsri Securities expected the day’s index to fluctuate between 1,335 points and 1,357 despite the positive news that a Covid-19 vaccine was almost ready, which helped attract more foreign funds into the market.
“Uncertainty over the US curfew to contain the spread of Covid-19 and signs of overbought stocks would pressure the index,” he said.
He added that foreign stock and oil markets are currently facing correction after rising sharply in previous days as investors were waiting for fresh positive sentiment.
He recommended investors buy STGT, STA, EPG, Com7, Synex, Hana and TVO, whose third-quarter performance is expected to improve.
The SET Index closed at 1,345.34 on Wednesday, up 4.10 points, or 0.31 per cent. Total transactions amounted to Bt117.15 billion, with an index high of 1,356.83 points and a low of 1,331.39.
