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SET under pressure, but index expected to rebound


The Stock Exchange of Thailand (SET) Index rose by 5.13 points, or 0.34 per cent, to 1,520.04 in the morning session on Thursday.

2,486

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A Krungsri Securities analyst expected the index to rebound to between 1,520 and 1,525 points after the US Federal Reserve decided to continue using quantitative easing to stimulate the economy and as the price of oil increased due to a shutdown of refineries in Texas as snow storms enveloped the state in an icy grip.

“However, the SET will be under pressure due to its tight valuation,” he predicted.

He recommended investors buy:

▪︎ IVL, SPRC, ESSO, VNT, CBG, ROJNA, TVO, HTC, CPF, RCL, PSL, SYNEX, COM7, XO, WICE, JMT, JMART, SINGER, SAWAD, AH, SAT, BH and CHG, whose fourth-quarter turnover is expected to improve.

▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.

The SET Index closed at 1,514.91 on Wednesday, down 8.20 points, or 0.54 per cent. Total transactions amounted to Bt96.45 billion, with an index high of 1,528.58 points and a low of 1,513.96.

Published : February 18, 2021

By : The Nation