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SET extends gains, but worries over pro-democracy protests cast a shadow

Nov 24. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index rose by 9.57 points, or 0.67 per cent, to 1,430.57 in the morning session on Tuesday.

An analyst at Krungsri Securities expected the day's index to rise to between 1,435 and 1,445. He expected more foreign funds to flow into the Thai bourse after US president-elect Joe Biden picked former Federal Reserve chairwoman Janet Yellen for Treasury Secretary, and positive news in the development of a Covid-19 vaccine.

"However, investors should beware of mass sell-offs in stocks to reduce risks from pro-democracy protesters' anti-government protest on Wednesday," he said.

He recommended that investors buy:

▪︎ COM7, SYNEX and SPVI that will benefit from the launch of iPhone 12.

▪︎ PTTEP, PTTGC, TOP, IVL and SPRC that will benefit from the rising oil price.

▪︎ AMATA, WHA, SAT, AH, and RCL that will benefit from the Regional Comprehensive Economic Partnership pact.

The SET Index closed at 1,420.43 on Monday, up 31.09 points, or 2.24 per cent. Total transactions amounted to Bt105 billion with an index high of 1,422.43 and a low of 1,395.58.

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