SET opens low due to uncertainty over US interest hike
The Stock Exchange of Thailand (SET) Index opened the week with an 18.27 points or 1.13 per cent drop to 1,594.71. The volume of total transactions stood at 10.78 billion baht with an index high of 1,601.12 and a low of 1,594.09.
The index closed at 1,612.98 on Friday, down 4.67 points or 0.29 per cent. Transactions totalled 110.18 billion baht with an index high of 1,622.43 and a low of 1,604.44.
Krungsri Securities predicts the SET Index will fall to between 1,600 and 1,605 points due to uncertainty over the US Federal Reserve’s signal on interest rate hike to deal with rising inflation, triggering strong dollar and outflow of foreign funds.
However, the index will be buoyed by mass buy-ups of shares gaining positive sentiment from Thailand's reopening, and those to be listed on the FTSE, SET50, and SET100 Indices, it said.
Investors are recommended to buy:
▪︎ BCH, CHG, BDMS, MINT, CENTEL, ERW, AOT, CPALL, HMPRO, CPN, CRC, AAV, AMATA, WHA, BEM and BTS, which will benefit from the country reopening.
▪︎ KTC, OR, BEC, DCC, EGCO, JMART, KEX, PTL, PSL, RBF, RCL, SAK, STARK, TTA and TRUE, which will be listed on the FTSE Index from Monday.
▪︎ 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.
