Rising US bond yield and volatility in foreign funds flow could pressure SET
The Stock Exchange of Thailand (SET) Index rose by 2.80 points, or 0.18 per cent, to 1,577.71 in the morning trade on Tuesday. A Krungsri Securities expected SET to fluctuate between 1,565 and 1,585 despite the decline in Thailands Covid-19 cases and strong Tiscos first-quarter perfomance.
"The index would be under pressure due to the rise in US bond yield and volatility in foreign funds flow," he said.
He advised investors to follow banks' first-quarter performance that would be announced this week.
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 1,574.91 on Monday, up 25.95 points or 1.68 per cent. The volume of total transactions was Bt87.45 billion with an index high of 1,574.97 and a low of 1,552.91.
