Grim outlook for SET amid worsening Covid situation, outflow of foreign funds
The Stock Exchange of Thailand (SET) Index fell by 3.48 points, or 0.23 per cent, to 1,529.23 on Friday morning.
The SET Index closed at 1,532.71 on Wednesday, down 9.91 points or 0.64 per cent. Transactions totalled THB99.75 billion with an index high of 1,550.74 and a low of 1,531.58.
The stock market was closed on Thursday as the country marked the birthday of Her Majesty Queen Sirikit the Queen Mother.
Krungsri Securities forecast that the index on Friday would fall to between 1,520 and 1,525 points after Thailand's daily Covid-19 infections hit a new high of 23,418.
Meanwhile, it predicted that anti-government rallies and outflow of foreign funds would pressure the index.
It recommended selective buying as an investment strategy:
▪︎ HANA, KCE, TU, CPF, GFPT, ASIAN, EPG, SUN and NER, which benefit from the weakening baht.
▪︎ BCH, DOHOME, CBG, BEC, JWD, WICE, SONIC, TTA, RCL and LANNA, whose second-quarter revenue is expected to improve.
