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SET up marginally but could be pressured if Opec+ allows hike in oil output


The Stock Exchange of Thailand (SET) Index rose by 5.42 points, or 0.36 per cent, to 1,506.34 in the morning session on Tuesday.

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A Krungsri Securities analyst expected the day's index to fluctuate between 1,490 and 1,510 points despite the US approving a US$1.9-trillion economic stimulus package.

Uncertainty over the rise in US Treasury yield, together with the falling oil price due to an expectation that Opec+ would increase production during the meeting on Thursday, would pressure the index, he said.

He recommended that investors buy:

▪︎ AOT, MINT, CENTEL, CPN, CRC and MAJOR, which benefit from positive news of the 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 on Monday closed at 1,500.92, up 4.14 points or 0.28 per cent. The volume of total transactions was Bt84.56 billion with an index high of 1,505.61 and a low of 1,487.99.

Published : March 02, 2021

By : The Nation