Thursday, August 05, 2021

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SET expected to get a boost from planned reopening of country, US stimulus approval


The Stock Exchange of Thailand (SET) Index rose by 10.51 points or 0.67 per cent to 1,583.56 in the morning session on Thursday.

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A Krungsri Securities analyst expected the SET to rise to between 1,580 and 1,590 points after US Congress approval of a $1.9-trillion (Bt58.3 trillion) economic stimulus package, plus the decline in the US bond yield as the country’s February consumer price index rose slightly.

Also, the SET gained positive sentiment from the Thai government’s measures to stimulate the economy and news that the country aimed to fully reopen to visitors.

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, PTG, and TACC, which benefit from positive news on hemp production and its general use.

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

The SET Index closed at 1,573.05 on Wednesday, up 22.46 points or 1.45 per cent. Total transactions amounted to Bt107.92 billion, with an index high of 1,573.55 points and a low of 1,550.45.

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Published : March 11, 2021

By : The Nation