Tuesday, June 22, 2021

business

SET falls slightly, expected to drop further today


The Stock Exchange of Thailand (SET) Index fell by 2.67 points, or 0.18 per cent, to 1,510.16 in the morning session on Wednesday.

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The SET is predicted to fall to between 1,500 and 1,505 points due to a lack of positive sentiments, said a Krungsri Securities analyst.

He believes investors will delay share purchases as they keep an eye on the latest US Federal Reserve meeting as well as volatility in the price of Delta Electronics shares after the SET extended cash balance regulations for the company’s shares.

“Meanwhile, the decline in foreign fund flows would pressure the index,” he said.

He advised investors to follow the Fed meeting amid expectations that the US central bank would maintain the interest rate at 0.25 per cent and continue using quantitative easing of US$120 billion (Bt3.6 trillion) per month.

He recommended investors buy:

▪︎ PTTGC, TOP, IVL, EPG, VNT, SCGP, CBG, ROJNA, TVO, STGT, CPF, RCL, PSL, SYNEX, COM7, XO, WICE, JMT, MTC, SAWAD and KCE, whose fourth-quarter turnover is expected to improve.

▪︎ SPALI, AP and LH, which will benefit from the Cabinet’s move to cut home transaction fees.

The SET Index closed at 1,512.83 on Tuesday, up 11.21 points, or 0.75 per cent. Total transactions amounted to Bt87.82 billion, with an index high of 1,514.82 points and a low of 1,490.37.

Published : January 27, 2021

By : The Nation