SET could feel the heat amid Covid situation, falling oil price: Krungsri Securities
The Stock Exchange of Thailand (SET) Index rose by 2.65 points or 0.17 per cent to 1,572.35 on Thursday morning.
Krungsri Securities predicted the index would fluctuate between 1,560 and 1,575 points despite the US Federal Reserve signalling it would maintain the interest rate as well as its quantitative easing programme in a bid to boost the country’s economy.
“The falling oil price after Saudi Arabia and the United Arab Emirates reached a conclusion on increasing oil output, plus a rise in domestic Covid-19 cases would pressure the index,” Krungsri Securities said.
It recommended investors buy:
▪︎ Hana, KCE, TU, CPF, Asian and EPG, which benefit from a weakening baht.
▪︎ BCH, CHG, BDMS, HMPro, Global, DoHome, BEM, CKP, CBG, Ichi and GPSC, whose second-quarter business turnover is expected to improve.
The SET Index closed at 1,569.70 on Wednesday, down 1.29 points or 0.08 per cent. Transactions totalled THB72.58 billion with an index high of 1,573.04 and a low of 1,561.00.
