Sunday, August 01, 2021

business

SET expected to fluctuate amid cautious optimism of a US recovery


The Stock Exchange of Thailand (SET) Index fell by 5.21 points or 0.33 per cent to 1,557.03 at 10.12am on Thursday. The volume of transactions was THB9.94 billion with an index high of 1,566.18 points and a low of 1,555.55.

Krungsri Securities predicted the day’s index would fluctuate between 1,555 and 1,570 points as minutes of a key Federal Reserve meeting in April showed officials were cautiously optimistic about a US recovery.

Meanwhile, the Fed signalled that it would be open “at some point” to discussing a scaling back of the central bank’s massive bond purchases.

Also pressuring the SET are the falling oil price amid progress of an Iran nuclear deal, plus the outflow of foreign funds, Krungsri Securities said.

“However, the index would rebound from mass buy-ups of shares which gained positive sentiment and on hopes of a Thai economic recovery after mass vaccinations commence in June,” it added.

It recommended investors buy:

▪︎ BDMS, BCH and CHG, which would gain positive sentiment from mass vaccinations.

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

▪︎ CK, STEC, ITD, NWR, Uniq, which benefit from e-bidding for the Den Chai-Chiang Khong double-track railway project.

 

The SET Index closed at 1,562.24 on Wednesday, down 4.56 points or 0.29 per cent. Total transactions amounted to THB83.53 billion with an index high of 1,570.05 points and a low of 1,557.83.

Published : May 20, 2021

By : The Nation