SET expected to face volatility from expected court verdict in PM case
The Stock Exchange of Thailand (SET) Index rose by 4.08 points, or 0.29 per cent, to 1,424.95 in the morning session on Wednesday.
An analyst at Krungsri Securities expected the day’s index to swing between 1,410 and 1,430 points despite positive news of a $908-billion (Bt27.4 trillion) economic stimulus package and a Covid-19 vaccine.
“However, the falling oil price due to a postponement of the Opec+ meeting amid conflict over the bloc’s oil production policy, together with the expected Constitutional Court ruling in a case against Prime Minister General Prayut Chan-o-cha would pressure the index,” he said.
He recommended investors buy:
> MINT, CENTEL and AOT that benefit from the development of a Covid-19 vaccine.
> AMATA, WHA, SAT and AH that will benefit from the Asia-Pacific Regional Comprehensive Economic Partnership pact.
The SET Index closed at 1,420.87 on Tuesday, up 12.56 points, or 0.89 per cent. Total transactions amounted to Bt78 billion, with an index high of 1,430.03 points and a low of 1,416.39.
