Tue, November 30, 2021

business

SET tumbles over news of nationwide lockdown


The Stock Exchange of Thailand (SET) Index nose-dived by 20.97 points or 1.33 per cent to 1,555.63 on Thursday morning.

Krungsri Securities predicted the index would descend to between 1,565 and 1,570 points due to a falling oil price amid uncertainty over the Opec+ bloc’s production policy, as well as news that there could be a nationwide lockdown in response to the Centre for Covid-19 Situation Administration’s remark that the number of virus cases in Thailand could soar by 10,000 per day.

The Public Health Ministry reported on Thursday morning that there were 7,058 new Covid-19 cases in the past 24 hours, 68 of which were found in prisons.

In addition, the outflow of foreign funds in line with a weakening baht would pressure 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, Ichi and GPSC, whose second-quarter business turnover is expected to improve.

 

The SET Index closed at 1,576.60 on Wednesday, down 14.83 points or 0.93 per cent. Transactions totalled THB82.47 billion with an index high of 1,587.70 and a low of 1,574.14.

Published : July 08, 2021

By : The Nation