Sunday, July 25, 2021

business

SET bullish as US jobless numbers decline, Biden plans $6-trillion budget


The Stock Exchange of Thailand (SET) Index rose by 8.93 points, or 0.56 per cent, to 1,591.89 at 10am on Friday. The volume of total transactions was THB9.05 billion with an index high of 1,593.83 and a low of 1,590.07.

Krungsri Securities expected the index on Friday to rise to between 1,595 and 1,600 points as the number of US initial jobless claims continued to decrease, while US President Joe Biden will unveil a $6-trillion budget plan for fiscal year 2022 on Friday.

It added that the index had also gained positive sentiment from the rising oil price.

However, investors should beware of mass sell-offs of shares due to the outflow of foreign funds, Krungsri Securities said.

It recommended that investors buy:

▪︎ BDMS, BCH and CHG, which gained positive sentiment from the mass vaccination.

▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.

▪︎ EA, GPSC, BPP and ROJNA, which benefit from the Thai government's move to promote electric cars.

 

The SET Index closed at 1,582.96 on Thursday, up 14.38 points or 0.92 per cent. Total transactions leapt to THB175.27 billion, from their normal level below THB100 billion, with an index high of 1,587.54 and a low of 1,568.89.

Published : May 28, 2021

By : The Nation