Thai shares climb, but worries over Opec+ decision and bubble risks cast shadow
The Stock Exchange of Thailand (SET) Index rose by 11.27 points, or 0.75 per cent, to 1,514.63 in the morning session on Wednesday.
A Krungsri Securities analyst forecast that the day’s index would fluctuate between 1,495 and 1,515 points despite the US approving $1.9 trillion in economic stimulus measures.
Uncertainty over a falling oil price due to expectations that the Opec+ grouping would commit to increasing production during a meeting on Thursday, plus China’s top bank regulator warning of bubble risks in foreign markets, would pressure the index, he said.
He recommended investors buy:
▪︎ AOT, MINT, CENTEL, CPN, CRC and MAJOR, which benefit from positive news of a 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 1,503.36 on Tuesday, up 2.44 points or 0.16 per cent. Total transactions amounted to Bt88.90 billion, with an index high of 1,509.65 points and a low of 1,500.80.
