Fallout of Covid variant on global economy to drag SET down
The Stock Exchange of Thailand (SET) Index fell by 5.74 points, or 0.37 per cent, to 1,550.27 on Tuesday morning.
The SET Index closed at 1,556.01 on Monday, down 18.36 points or 1.17 per cent. Transactions totalled THB66.72 billion with an index high of 1,563.88 and a low of 1,551.79.
Krungsri Securities predicted the index on Tuesday would fall further to between 1,545 and 1,550 points due to concerns that the Covid-19 Delta variant outbreak would hit global economic recovery.
It added that the negative sentiment had also caused oil price to fall sharply and foreign funds to flow out of the stock market.
"However, mass buy-ups of shares that have gained positive sentiment, such as stocks whose second-quarter business turnover is expected to improve, would help the index to rebound," Krungsri Securities said.
It recommended that investors buy:
▪︎ HANA, KCE, TU, CPF, ASIAN and EPG, which benefit from 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.
