Monday, August 02, 2021

business

SET rides on US $2.26-trillion stimulus plan, move to hike oil production


The Stock Exchange of Thailand (SET) Index rose by 7.34 points, or 0.46 per cent, to 1,602.46 in the morning session on Friday.

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A Krungsri Securities analyst expected the day's index to rise to between 1,600 and 1,610 on the back of the US' $2.25-trillion infrastructure plan, the rising oil price after Opec+ agreed to increase oil production gradually, and falling US bond yield.

He recommended that investors buy:

▪︎ EA, GPSC and BBP, which benefit from the Thai government's move to promote electric cars.

▪︎ AOT, MINT, CENTEL, AAV, BA, CPN, CRC, MAJOR, BDMS and BH, which benefit from Thailand's Covid-19 vaccination and the government's move to gradually reopen the country to foreign tourists.

▪︎ HANA, KCE, TU and CPF, which benefit from the weakening baht.

The SET Index closed at 1,595.12 on Thursday, up 7.91 points or 0.50 per cent, boosted by Biden's stimulus plan.

However, the index failed to surpass 1,600 points as investors sold some of their shares to take profit and monitor the outcome of the Opec+ meeting.

Published : April 02, 2021

By : The Nation