Rise in Covid-19 cases, anti-govt protests to pressure SET Index
The Stock Exchange of Thailand (SET) Index rose by 6.25 points or 0.40 per cent to 1,550.47 on Wednesday morning.
Krungsri Securities forecast the day’s index would fluctuate between 1,535 and 1,550 points amid signs of a technical rebound and mass buy-ups of shares that gained positive sentiment.
However, it said the index would be under pressure from a rise in Covid-19 cases both in Thailand and abroad as well as ongoing anti-government protests in the country.
It recommended selective buying of the following companies’ shares as an investment strategy:
▪︎ Hana, KCE, TU, CPF, GFPT, Asian, EPG and NER, which benefit from a weakening baht.
▪︎ PSL and TTA, which would benefit from a rise in the freight rate.
▪︎ BCH, CHG, BDMS, Advanc, Intuch, BGrim, GPSC and CKP, which are able to escape the impact from market volatility.
The SET Index closed at 1,544.22 on Tuesday, up 12.98 points or 0.85 per cent. Transactions totalled THB83.14 billion with an index high of 1,545.95 and a low of 1,533.32.
