Monday, April 19, 2021

Worries over new Covid-19 wave rattles SET

Apr 07. 2021
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By The Nation

The Stock Exchange of Thailand (SET) Index fell by 19.56 points or 1.24 per cent to 1,560.10 in the morning session on Wednesday.

A Krungsri Securities analyst forecast that the SET would fall to between 1,570 and 1,575 points despite hopes of an economic recovery after strong data from the US and China, plus the US’s $2.26-trillion (Bt70.7 trillion) infrastructure plan.

The index would be under pressure due to uncertainty over the new wave of Covid-19 and anti-government pro-democracy protests, he said.

He recommended investors buy:

▪︎ TQM and STGT, which benefit from the Covid-19 situation.

▪︎ Hana, KCE, TU, CPF and XO, 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.

The SET Index closed at 1,579.66 on Monday, down 16.61 points or 1.04 per cent. The volume of total transactions was Bt81.50 billion, with an index high of 1,601.24 points and a low of 1,575.56.

The index was closed on Tuesday for Chakri Day.

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