Saturday, June 19, 2021

business

Thailands Covid-19 situation, volatile funds flows expected to pressure SET


The Stock Exchange of Thailand (SET) Index rose by 9.34 points, or 0.59 per cent, to 1,581.25 at 10.04am on Friday. The volume of total transactions was THB7.31 billion with an index high of 1,584.42 and a low of 1,581.15.

Krungsri Securities forecast that the SET Index would fluctuate between 1,565 and 1,585 points despite the decline in US jobless claims, US economic stimulus measures and mass buy-ups of shares whose first-quarter performance is likely to improve.

It added that US jobless claims had dropped to the lowest in a year.

"However, uncertainty over Thailand's higher Covid-19 cases and volatility in foreign fund flows would pressure the day's index," Krungsri Securities predicted.

It recommended that 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 vaccine.

▪︎ PTTGC, IVL, EPG, CPF, BCH, CHG, STGT, DOHOME, COM7, SYNEX, STARK, TWPC, TNP and WICE, whose first-quarter turnover is expected to improve.

 

The SET Index closed at 1,571.91 on Thursday, up 22.69 points or 1.46 per cent. The volume of total transactions was THB91.32 billion with an index high of 1,575.37 and a low of 1,551.42.

Published : May 07, 2021

By : The Nation