Tue, December 07, 2021

business

SET to face downward pressure from rising Covid cases, funds outflow


The Stock Exchange of Thailand (SET) Index fell by 19.17 points, or 1.22 per cent, to 1,555.20 on Monday morning.

The SET Index closed at 1,574.37 on Friday, up 2.36 points or 0.15 per cent. Transactions totalled THB80.44 billion with an index high of 1,575.66 and a low of 1,567.17.

Krungsri Securities predicted the index on Monday would fall to between 1,550 and 1,560 points due to uncertainty over the outbreak of the Covid-19 delta variant in the US and Europe that may affect economic recovery.

It forecast a rise in domestic Covid-19 cases and expected volatility in foreign funds flow to pressure the index.

Daily infections reached a new high of 11,784 on Monday and 81 deaths. It is the third consecutive day the country has recorded over 10,000 cases.

It recommended that investors buy:

▪︎ HANA, KCE, TU, CPF, ASIAN and EPG, which benefit from the weakening baht.

▪︎ BCH, CHG, BDMS, HMPRO, GLOBAL, DOHOME, BEM, CKP, CBG, OSP, ICHI, GPSC, BEC, GUNKUL, JWD, WICE, SONIC and NER, whose second-quarter business turnover is expected to improve.

Published : July 19, 2021

By : The Nation