Sunday, June 13, 2021

business

SET rebounds, but expected to fall due to worries over possible Fed rate hike, virus cases


The Stock Exchange of Thailand (SET) Index rose by 7.39 points or 0.48 per cent to 1,556.61 at 10.21am on Thursday. The volume of transactions was THB14.91 billion with an index high of 1,558.64 and a low of 1,551.42.

Krungsri Securities predicted that the index on Thursday would fall to between 1,540 and 1,545 points due to uncertainty over whether the US Federal Reserve would raise the interest rate and the number of Thailand’s Covid-19 cases, resulting in high volatility in foreign fund flows.

“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” Krungsri Securities said.

It recommended investors buy:

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

▪︎ BDMS, BCH and CHG, which gained positive sentiment from the import of Covid-19 vaccines.

▪︎ PTTGC, IVL, EPG, CPF, BCH, CHG, STGT, DoHome, Com7, Synex, Stark and TWPC, whose first-quarter turnover is expected to improve.

 

The SET Index closed at 1,549.22 on Wednesday, down 33.91 points or 2.14 per cent. The volume of total transactions was THB127.10 billion with an index high of 1,583.27 and a low of 1,547.35.

Published : May 06, 2021

By : The Nation