Monday, July 26, 2021

business

Shadow over economic recovery from increasing Covid-19 cases could impact SET


The Stock Exchange of Thailand (SET) Index rose by 7.87 points, or 0.51 per cent, to 1,556.83 in the morning session on Monday.

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A Krungsri Securities analyst forecast that the SET Index would fluctuate between 1,540 and 1,560 points despite positive sentiment from the US Federal Reserve's resolution to maintain the interest rate at a low level and lower US bond yield.

"However, uncertainty over the Covid-19 outbreak in Thailand after the number of Covid-19 cases increased by over 1,700 cases on Sunday would impact economic recovery and pressure the index," he said.

He recommended that investors buy:

▪︎ TQM, STGT, COM7, SYNEX, BDMS, BCH and CHG, which benefit from the Covid-19 outbreak.

▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.

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

The SET Index closed at 1,548.96 on Friday, up 7.84 points or 0.51 per cent. Total transactions amounted to Bt89.46 billion with an index high of 1,550.26 and a low of 1,529.29.

Published : April 19, 2021

By : The Nation