SET rallies on US stimulus hopes, but foreign fund outflows cast shadow
The Stock Exchange of Thailand (SET) Index rose by 7.41 points, or 0.50 per cent, to 1,489.16 in the morning session on Thursday.
The SET Index is expected to fluctuate between 1,470 and 1,490 points despite hopes over the rollout of fresh US economic stimulus measures, as well as the rising oil price after US oil storage dropped to its lowest level in almost a year, a Krungsri Securities analyst said.
“The outflow of foreign funds will pressure the index,” he added.
He recommended investors buy:
▪︎ PTTGC, TOP, IVL, EPG, VNT, CBG, Rojna, TVO, STGT, HTC, CPF, RCL, PSL, SYNEX, Com7, XO, Wice, JMT, JMART, Singer, MTC, Sawad and KCE, whose fourth-quarter turnover is expected to improve.
▪︎ ADVANC, INTUCH, AP, Siri and WHAUP, which pay high dividends.
The SET Index closed at 1,481.75 on Wednesday, down 4.50 points, or 0.30 per cent. Total transactions amounted to Bt79.48 billion, with an index high of 1,500.17 points and a low of 1,481.69.
