Thu, September 23, 2021

business

With more funds inflows expected, SET continues to fly high


The Stock Exchange of Thailand (SET) Index rose by 15.25 points, or 0.95 per cent, to 1,626.45 on Monday morning.

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The SET Index closed at 1,611.20 on Friday, up 9.29 points or 0.58 per cent. Transactions totalled THB95.44 billion with an index high of 1,615.22 and a low of 1,600.00 as the Thai stock market rose for the sixth day in succession.

Krungsri Securities expected the index on Monday to rise to between 1,620 and 1,625 on hopes of funds inflows after the US Federal Reserve signalled it was not in a hurry to raise the interest rate.

Krungsri Securities added that the index also gained positive sentiment from the government's move to ease lockdown measures as domestic infections are declining.

"However, investors should beware of mass sell-offs of shares due to ongoing domestic political issues, as well as mass sell-offs of shares that were affected by the news of floods at Bangpoo Industrial Estate [in Samut Prakan province]," Krungsri Securities said.

It recommended selective buying as an investment strategy:

▪︎ AOT, KBANK, BBL, CPN, CRC, HMPRO, AAV, BA, MINT, AMATA and WHA, which would benefit from the country's reopening.

▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.

▪︎ PTT, PTTEP, TOP, PTTGC and BANPU, which benefit from rising oil price.

Published : August 30, 2021