Slew of negative factors drag SET down
The Stock Exchange of Thailand (SET) Index fell by 14.93 points, or 0.98 per cent, to 1,513.39 on Monday morning.
The SET Index closed at 1,528.32 on Friday, down 4.39 points or 0.29 per cent. Transactions totalled THB82.02 billion with an index high of 1,541.08 and a low of 1,525.51.
Krungsri Securities predicted the index on Monday would fall to between 1,515 and 1,520 points as many negative sentiments were pressuring the index.
Foreign funds are likely to flow out due to the rising number of Covid-19 cases, both domestic and overseas, the ongoing anti-government protests and the weakening baht, Krungsri Securities said.
It recommended selective buying as investment strategy:
▪︎ HANA, KCE, TU, CPF, GFPT, ASIAN, EPG and NER, which benefit from the weakening baht.
▪︎ PSL and TTA, which would benefit from a rise in the freight rate.
