SET rises a tad in opening trade
The Stock Exchange of Thailand (SET) Index rose by 3.00 points or 0.18 per cent to 1,626.84 on Wednesday morning, witnessing a high of 1,628.72 and a low of 1,623.84 in opening trade.
Krungsri Securities predicted the day’s index would move between 1,615 and 1,620 points in line with the fall in neighbouring stock markets.
It said the index gained positive sentiment from a slight rise in the US Consumer Price Index, which helped allay investor concern over the Federal Reserve’s move to taper its quantitative easing programme.
“However, uncertainty over the US corporate income tax hike from 21 per cent to 26.5 per cent would affect investment,” Krungsri Securities pointed out.
“Hence, we advise investors to buy shares when prices are cheap, focusing on stocks that have gained positive sentiment.”
It recommended purchasing of the following companies’ shares as an investment strategy:
▪︎ PTT, PTTEP, TOP, PTTGC and SPRC, which benefit from the rising oil price.
▪︎ Hana, KCE, TU, CPF, GFPT, Asian, EPG, NER, Sun and APure, which benefit from a weakening baht.
▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.
The SET Index closed at 1,623.84 on Tuesday, down 9.92 points or 0.61 per cent. Transactions totalled THB84.17 billion with an index high of 1,640.40 and a low of 1,621.96.
