Thursday, August 05, 2021

business

SET slides amid worries over new Covid-19 wave, falling oil price


The Stock Exchange of Thailand (SET) Index dropped by 6.20 points, or 0.40 per cent, to 1,558.05 in the morning session on Wednesday.

1,743

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A Krungsri Securities analyst predicted that the SET Index would fall to a range between 1,555 and 1,560 points due to a new wave of Covid-19, especially in European countries, and the falling oil price.

“Meanwhile, the index would be under pressure amid uncertainty over the US move to increase corporate tax and volatility in fund flows,” he said.

He advised investors to follow the Monetary Policy Committee meeting on Wednesday. The committee is expected maintain the interest rate at 0.5 per cent.

He recommended investors buy:

▪︎ AOT, Mint, Centel, AAV, BA, 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.

▪︎ Ichi, Sappe, RBF, DOD, IP, TACC, Gunkul, Kiss and Ziga which benefit from positive news on hemp production and its general use.

The SET Index closed at 1,564.25 on Tuesday, down 2.11 points or 0.13 per cent. Total transactions amounted to Bt93 billion with an index high of 1,574.14 points and a low of 1,562.03.

Published : March 24, 2021

By : The Nation