Wed, December 01, 2021

business

SET expected to feel the heat from foreign fund outflows, rising Covid-19 cases


The Stock Exchange of Thailand (SET) Index rose by 2.50 points or 0.16 per cent to 1,590.29 on Thursday morning.

Krungsri Securities predicted the index would fluctuate between 1,580 and 1,600 points despite the expansion in US private sector employment and the rising oil price.

It believed foreign fund outflows and uncertainty amid higher Covid-19 cases in Thailand would pressure the index. In June, foreign investors made net share sales worth THB10 billion.

It recommended investors buy:

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

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

▪︎ BCH, CHG, BDMS, HMPro, BEM, CKP, CBG, PSL and TTA, whose second-quarter turnover is expected to improve.

 

The SET Index closed at 1,587.79 on Wednesday, down 3.64 points or 0.23 per cent. Transactions totalled THB83.59 billion with an index high of 1,600.57 and a low of 1,584.47.

Published : July 01, 2021

By : The Nation