SET extends slide amid worries over companies' turnover
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.
