SET falls amid worries over economic fallout of Covid-19 second wave
The Stock Exchange of Thailand (SET) Index fell by 1.84 points, or 0.13 per cent, to 1,465.14 in the morning session on Monday.
The SET is predicted to fall to between 1,450 and 1,455 points in line with the fall in the US stock market due to uncertainty over the speculation in GameStop shares, said Krungsri Securities analyst.
He said foreign funds are likely to flow out of the Thai stock market due to the impact of Covid-19 on the economy.
"However, the index would rebound from mass buy-ups of shares of companies whose fourth-quarter turnover is expected to improve," he said.
He recommended that investors buy:
▪︎ PTTGC, TOP, IVL, EPG, VNT, CBG, ROJNA, TVO, STGT, CPF, RCL, SYNEX, COM7, XO, WICE, JMT, MTC, SAWAD and KCE whose fourth-quarter earnings are expected to improve.
▪︎ CBG, ICHI, OSP, SAPPE, RBF and DOD, which benefit from news related to hemp.
The SET Index closed at 1,466.98 on Friday, down 1.53 points or 0.10 per cent. The volume of total transactions was Bt95.78 billion with an index high of 1,480.44 and a low of 1,455.55.
