Fed signal on QE, oil price expected to cast shadow over SET
The Stock Exchange of Thailand (SET) Index rose by 2.59 points, or 0.17 per cent, to 1,557.13 at 10am on Friday. The volume of total transactions was worth THB4.82 billion with an index high of 1,560.51 and a low of 1,556.97.
Krungsri Securities forecast that the SET Index would fluctuate between 1,545 and 1,565 points despite positive sentiment of a decline in US jobless claims.
It said the index would be under pressure due to uncertainty over the US Federal Reserve's signal it would be open “at some point” to discussing a scaling back of its massive bond purchases, or quantitative easing (QE).
"Besides, the falling oil price would pressure energy shares," Krungsri Securities added.
It recommended that investors buy:
▪︎ BDMS, BCH and CHG, which have gained positive sentiment from the mass vaccination.
▪︎ HANA, KCE, TU, CPF and EPG, which benefit from the weakening baht.
▪︎ CK, STEC, ITD, NWR, UNIQ, which benefit from the e-bidding of Den Chai-Chiang Khong double-track railway project.
The SET Index closed at 1,554.54 on Thursday, down 7.70 points or 0.49 per cent. Total transactions amounted to THB90 billion with an index high of 1,568.72 and a low of 1,554.54.
