Wednesday, July 28, 2021

business

Anti-govt rally, lower GDP forecast, foreign fund outflows set to pressure SET


The Stock Exchange of Thailand (SET) Index fell by 14.64 points or 0.92 per cent to 1,577.44 on Thursday morning.

Krungsri Securities predicted the index would move between 1,580 and 1,600 points on Thursday despite the US Federal Reserve signalling it was in no hurry to hike the interest rate, and a continued rise in the oil price.

Meanwhile, the pro-democracy anti-government rallies in Bangkok, the Monetary Policy Committee’s move to lower Thailand’s GDP forecast to 1.8 per cent from 3 per cent and the outflow of foreign funds would pressure the index, Krungsri Securities added.

It recommended investors buy:

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

▪︎ Hana, KCE, TU, CPF and EPG, which benefit from a weakening baht.

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

 

The SET Index closed at 1,592.08 on Wednesday, down 7.15 points or 0.45 per cent. Transactions totalled THB77.7 billion with an index high of 1,606.39 and a low of 1,590.63.

Published : June 24, 2021

By : The Nation