Thursday, July 29, 2021

business

SET under pressure due to fall in US home construction, decreasing oil price


The Stock Exchange of Thailand (SET) Index fell by 2.02 points or 0.13 per cent to 1,564.78 at 10.02am on Wednesday. The volume of transactions was THB4.63 billion with an index high of 1,565.27 points and a low of 1,560.77.

Krungsri Securities (KS) predicted that the day’s index would fall to between 1,555 and 1,560 points, in line with the drop in other Asian indices after an announcement that US home construction fell by 9.5 per cent in April.

Also, the falling oil price due to progress in renewing the Iran nuclear deal, plus the outflow of foreign funds, would pressure the index, KS said.

“However, the index would rebound on hopes of an economic recovery after many European countries eased lockdowns,” KS predicted.

It recommended investors buy:

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

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

▪︎ Advanc, Intuch and WhaUp, which pay high dividends.

 

The SET Index closed at 1,566.80 on Tuesday, up 17.64 points or 1.14 per cent. The volume of total transactions was THB98.21 billion with an index high of 1,570.37 and a low of 1,558.85.

Published : May 19, 2021

By : The Nation