Sat, November 27, 2021

business

SET rises on hopes of more US stimulus measures, rising oil price


The Stock Exchange of Thailand (SET) Index rose by 16.74 points, or 1.11 per cent, to 1,530.52 in the morning session on Friday.

An analyst at Krungsri Securities predicted the day’s index would climb to between 1,525 and 1,530 points on hopes of added US economic stimulus measures after Democrats took control of Congress, as well as the rising oil price.

“However, investors should beware of market volatility due to the weakening baht and a decline in foreign fund flows,” he said.

He recommended investors buy:

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

> 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 1,513.78 on Thursday, up 21.42 points, or 1.44 per cent. Total transactions amounted to Bt121.32 billion, with an index high of 1,519.91 points and a low of 1,502.81, thanks to mass buy-ups of energy and bank shares.

Published : January 08, 2021

By : The Nation