Sunday, August 01, 2021

business

SET slips, under pressure from weakening baht, erratic foreign fund flows, virus situation


The Stock Exchange of Thailand (SET) Index fell by 6.09 points or 0.38 per cent to 1,585.34 on Wednesday morning.

Krungsri Securities predicted the index would drop to between 1,580 and 1,585 points due to a falling oil price amid uncertainty over the Opec+ bloc’s oil production policy.

A weakening baht, volatile foreign fund flows and a higher number of Covid-19 cases in Thailand are also pressuring the index, Krungsri Securities said.

It recommended investors buy:

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

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

 

The SET Index closed at 1,591.43 on Tuesday, up 12.15 points or 0.77 per cent. Transactions totalled THB69.48 billion with an index high of 1,594.15 and a low of 1,585.34.

Published : July 07, 2021

By : The Nation