SET rebounds on growth in China's fourth-quarter GDP
The Stock Exchange of Thailand (SET) Index rose by 11.10 points, or 0.74 per cent, to 1,521.23 in the morning session on Tuesday.
An analyst at Krungsri Securities forecasts the day's index to rebound to between 1,515 and 1,520 after China's fourth-quarter gross domestic product in 2020 rose by 6.5 per cent compared to 4.9 per cent in the previous quarter.
"However, investors should beware of volatility due to tight SET valuation and the decline in foreign funds inflow," he said, adding the index price-to-earnings ratio was 30 times.
He recommended that investors buy:
▪︎ PTTGC, TOP, IVL, EPG, SCGP, CBG, ROJNA, TVO, CPF, RCL, SYNEX, XO, WICE, JMT, MTC and SAWAD whose fourth-quarter turnover is expected to improve.
▪︎ ADVANC, INTUCH, AP, SIRI and WHAUP, which pay high dividends.
The SET Index closed at 1,510.13 on Monday, down nine points or 0.59 per cent. Total transactions amounted to Bt74.43 billion with an index high of 1,515.51 and a low of 1,503.04. The index was down for a third successive day of trading, after dropping 0.73 per cent on Thursday and 0.84 per cent on Friday.
