Friday, April 23, 2021

business

US Treasury yields, funds outflows push SET down


The Stock Exchange of Thailand (SET) Index fell by 8.08 points, or 0.54 per cent, to 1,488.70 in the morning session on Monday.

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A Krungsri Securities analyst expected the SET to fall between 1,455 and 1,475 points due to uncertainty over rising US Treasury yields and falling oil price, together with the outflow of foreign fund due to the weakening baht.

However, the index would rebound from the approval of the US economic relief package worth US$1.9 trillion, he said.

He recommended that investors buy:

▪︎ AOT, MINT, CENTEL, CPN, CRC and MAJOR, which benefit from positive news of Covid-19 vaccine in Thailand.

▪︎ HANA, KCE, TU and CPF, which benefit from the weakening baht.

▪︎ CBG, ICHI, SAPPE, RBF, DOD and PTG, which benefit from positive news on hemp production and its general use.

The SET Index closed at 1,496.78 on Thursday, up 5.67 points or 0.38 per cent. Total transactions amounted to Bt124.12 billion with an index high of 1,511.30 and a low of 1,494.36.

The index was closed on Friday for Makha Bucha Day.

Published : March 01, 2021

By : The Nation