Monday, March 08, 2021

SET extends slide amid worries over companies' turnover

Jan 18. 2021
Facebook Twitter

By The Nation

The Stock Exchange of Thailand (SET) Index fell by 7.18 points, or 0.47 per cent, to 1,511.95 in the morning session on Monday.

An analyst at Krungsri Securities expected the index to drop to between 1,500 and 1,510 due to uncertainty over US President-elect Joe Biden's measures to raise the tax rate as it would pressure companies' turnover.

"Besides, the SET would be under pressure from its tight valuation, the decline in foreign funds flows and falling oil price in response to countries' lockdowns," he said.

He recommended that investors buy:

▪︎ PTTGC, TOP, IVL, EPG, SCGP, CBG, ROJNA, TVO, RCL, SYNEX, XO, WICE, JMT, MTC and SAWAD, whose fourth-quarter turnover is expected to improve.

The SET Index closed at 1,519.13 on Friday, down 16.85 points or 1.10 per cent. Total transactions amounted to Bt101.41 billion with an index high of 1,544.11 and a low of 1,513.48.

Tags:
Facebook Twitter
More in Business
Editor’s Picks
wmg-logo
Top News
wmg-logo