Wednesday, July 28, 2021

business

SET expected to fluctuate despite PM’s vow on reopening country


The Stock Exchange of Thailand (SET) Index fell by 3.88 points or 0.24 per cent to 1,620.91 on Thursday morning. The volume of transactions was THB6.77 billion with an index high of 1,623.06 and a low of 1,619.34.

Krungsri Securities predicted the SET Index would fluctuate between 1,610 and 1,615 points despite Prime Minister Prayut Chan-o-cha’s promise to reopen Thailand within 120 days, starting with important tourist destinations.

The index would come under pressure due to the outflow of foreign funds in response to the US Federal Reserve announcing that it had begun discussions on asset tapering and expected two interest rate hikes by the end of 2023 as inflation continued to rise, Krungsri Securities added.

It recommended investors buy:

▪︎ PTT, PTTEP, Top, IVL, Banpu, PSL and TTA, which would benefit from a global economic recovery.

▪︎ BCH, CHG, BDMS, Mint, Centel, ERW, AOT, CPAll, HMPro, CPN, CRC, AAV, Amata and WHA, which would benefit from the country reopening.

▪︎ KCE, IRPC, STA and STGT, which will be listed on the SET50 Index on June 30.

▪︎ AAV, Ichi, NRF, PSL, PTL, Singer, STGT, Synex and TKN, which will be listed on the SET100 Index on June 30.

 

The SET Index closed at 1,624.79 on Wednesday, up 2.48 points or 0.15 per cent. Transactions totalled THB90.47 billion with an index high of 1,631.23 and a low of 1,619.23.

Published : June 17, 2021

By : The Nation