Sunday, September 19, 2021

business

SET being squeezed by rising virus cases, fund outflows, but likely to rebound


The Stock Exchange of Thailand (SET) Index rose by 2.51 points or 0.16 per cent to 1,540.14 on Thursday morning.

Krungsri Securities predicted the index would fall to between 1,520 and 1,530 points despite the US Federal Reserve maintaining its interest rate at 0.25 per cent and continuing with its quantitative easing programme.

It also predicted that the index would be under pressure due to rising domestic Covid-19 cases and the outflow of foreign funds.

“However, the index would rebound from mass buy-ups of stocks which gained positive sentiment, such as export shares and shares whose second-quarter business turnover was expected to improve,” 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, OSP, Ichi, GPSC, BEC, Gunkul, JWD, Wice, Sonic and NER, whose second-quarter business turnover is expected to improve.

The SET Index closed at 1,537.63 on Tuesday, down 7.47 points or 0.48 per cent. Transactions totalled THB70.26 billion with an index high of 1,551.43 and a low of 1,531.81.

The index was closed on Wednesday for His Majesty the King Rama X’s birthday.

Published : July 29, 2021

By : The Nation