Upswing in SET expected on hopes lockdown would be eased, but index still faces pressure
The Stock Exchange of Thailand (SET) Index rose by 14.99 points or 0.97 per cent to 1,568.17 on Monday morning.
Krungsri Securities expected the index would move between 1,560 and 1,565 points on Monday on hopes that the lockdown would be eased as domestic Covid-19 cases were seen to be declining and the vaccination rate improving.
However, it predicted that the US Federal Reserve signalling a tapering of its quantitative easing programme, investment fund outflows and the ongoing anti-government protests in Thailand would pressure the index.
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, TTA and RCL, which would benefit from a rise in the freight rate.
▪︎ AOT, CPN, CRC, HMPro, AAV, BA, Mint, Centel, Amata and WHA, which would benefit from the country reopening.
The SET Index closed at 1,553.18 on Friday, up 8.90 points or 0.58 per cent. Transactions totalled THB82.37 billion with an index high of 1,554.45 and a low of 1,545.92.
