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SET falls, but expected to 'move upside' on positive vaccine news

SET falls, but expected to 'move upside' on positive vaccine news

THURSDAY, March 04, 2021

The Stock Exchange of Thailand (SET) Index dropped by 7.02 points, or 0.45 per cent, to 1,536.38 in the morning session on Thursday.

A Krungsri Securities analyst expected the index to fluctuate between 1,535 and 1,560 points in line with other Asian indices due to uncertainty over a rising US bond yield and the results of a key Opec+ meeting expected later on Thursday.

However, the index would move upside from mass buy-ups of stocks which have gained positive sentiment from good news that Covid-19 vaccinations have commenced in Thailand, 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 1,543.40 on Wednesday, up 40.04 points or 2.66 per cent. Total transactions amounted to Bt118.27 billion, with an index high of 1,543.48 points and a low of 1,510.07.