SET gains as Trump gives the nod to US stimulus package
The Stock Exchange of Thailand (SET) Index rose by 9.78 points, or 0.67 per cent, to 1,462.45 in the morning session on Tuesday.
An analyst at Krungsri Securities expected the day's index to fluctuate between 1,440 and 1,470 amid news that US President Donald Trump had signed an economic stimulus package and mass buy-ups of Super Savings Funds and Retirement Mutual Funds at the end of the year.
"However, the slowdown of foreign funds flows and uncertainty over the surge of domestic Covid-19 cases would pressure the index," he said.
He recommended that investors buy:
▪︎ PTTEP, PTTGC, TOP and IVL, which benefit from rising oil price, and their fourth-quarter performance is expected to improve too.
▪︎ PSL, TTA and RCL, which would benefit from the rise in the Baltic Dry Index.
▪︎ TQM, BLA, STGT, AJ, PTL, SYNEX and COM7, which benefit from the Covid-19 outbreak.
The SET Index closed at 1,452.67 on Monday, down 33.64 points or 2.26 per cent. Total transactions amounted to Bt103.63 billion with an index high of 1,512.99 and a low of 1,452.48.
