Fri, December 03, 2021

business

SET gets a boost from rising US consumer confidence index


The Stock Exchange of Thailand (SET) Index rose by 9.08 points, or 0.58 per cent, to 1,583.94 in the morning session on Monday.

A Krungsri Securities analyst expected the day's index to rise to between 1,580 and 1,585 in response to the rise in the US consumer confidence index and oil price before falling.

He said the index would gain positive sentiment from mass buy-ups of shares as window dressing before the end of the first quarter this year.

"However, the index would be under pressure due to rising US bond yield and volatility in funds flow," he said.

He recommended that investors buy:

▪︎ AOT, MINT, CENTEL, AAV, BA, 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, IP, TACC, GUNKUL and KISS, which benefit from positive news on hemp production and its general use.

▪︎ PTG, EA, GPSC and BBP, which benefit from news that Thailand will stop sales of conventional motor vehicles by 2035 and go in solely for electric vehicles.

The SET Index closed at 1,574.86 on Friday, up 3.82 points or 0.24 per cent. Total transactions amounted to Bt74 billion with an index high of 1,580.74 and a low of 1,566.89.

Published : March 29, 2021

By : The Nation