SET slides despite some positive factors
The Stock Exchange of Thailand (SET) Index fell by 2.57 points, or 0.16 per cent, to 1,579.41 on Monday morning. The volume of total transactions was THB10.93 billion with an index high of 1,585.41 and a low of 1,578.61.
Krungsri Securities predicted the index would fluctuate between 1,575 and 1,595 points despite hopes of a global economic recovery as well as the Thai Public Health Ministry announcing mass vaccinations from June 7.
The US Federal Reserve, meanwhile, is likely to maintain interest rate at a low level and continue using quantitative easing.
However, uncertainty over rising inflation after US personal consumption expenditure in April increased by 0.6 per cent, plus the outflow of foreign funds, would pressure the index, Krungsri Securities said.
It recommended that investors buy:
▪︎ BDMS, BCH, CHG, MINT, CENTEL, AOT, CPALL, HMPRO, CPN and CRC, which have gained positive sentiment from the mass vaccination plan.
▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.
The SET Index closed at 1,581.98 on Friday, down 0.98 points or 0.06 per cent. Transactions amounted to THB99.50 billion with an index high of 1,595.45 and a low of 1,579.53.
