SET hit by negative sentiment as new Covid-19 cases soar
The Stock Exchange of Thailand (SET) Index fell by 7.83 points, or 0.50 per cent, to 1,558.51 in the morning session on Monday.
A Krungsri Securities analyst forecast that the SET would fall to between 1,555 and 1,560 points after Covid-19 cases in Thailand rose by almost 1,000 cases on Sunday, resulting in uncertainty over the country's economic recovery, especially that of the tourism sector.
"Besides, stocks related to finance would be under pressure due to the negative news of interest rate adjustment and calculation method, while investors would sell their stocks to prevent risks during the Songkran holidays," he said.
He suggested that investors buy:
▪︎ TQM, STGT, COM7, SYNEX, BDMS, BCH, CHG and BH, which benefit from the Covid-19 outbreak.
▪︎ HANA, KCE, TU, and CPF, which benefit from the weakening baht.
The SET Index closed at 1,566.34 on Friday, up 7.51 points or 0.48 per cent. The volume of total transactions was Bt82 billion with an index high of 1,572.13 and a low of 1,561.76.
