Friday, June 25, 2021

business

SET climbs on hopes of fresh US stimulus, rising oil price


The Stock Exchange of Thailand (SET) Index rose by 17.64 points, or 1.18 per cent, to 1,510 in the morning session on Thursday.

1,684

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An analyst at Krungsri Securities predicted that the day’s index would rise to between 1,500 and 1,510 points amid hopes over fresh US economic stimulus measures after the Democrats’ victory in Georgia’s Senate election, as well as the rising oil price.

“However, investors should beware of mass sell-offs of shares in response to technical signals,” he said.

He recommended investors buy:

> KBank, SCB, BBL and BLA. which benefit from the rising US bond yield.

> PTTEP, PTTGC, Top and IVL, which benefit from the rising oil price while their fourth-quarter performance is expected to improve.

> PSL, TTA and RCL, which would benefit from the rise in freight rates.

The SET Index closed at 1,492.36 on Wednesday, down 14.29 points or 0.95 per cent. Total transactions amounted to Bt142.32 billion, with an index high of 1,514.89 points and a low of 1,485.79.

Published : January 07, 2021

By : The Nation