Stocks with positive sentiment prop up SET
The Stock Exchange of Thailand (SET) Index fell by 8.61 points, or 0.53 per cent, to 1,617.04 on Monday morning, witnessing a high of 1,618.58 and a low of 1,614.90 in opening trade.
The SET Index had closed at 1,625.65 on Friday, down 6.05 points or 0.37 per cent. Transactions totalled THB105.67 billion with an index high of 1,635.04 and a low of 1,617.31.
Krungsri Securities forecast the index on Monday would fluctuate between 1,615 and 1,635 points due to lack of positive sentiment.
It said uncertainty over a US corporate tax hike and investors' move to delay investment to hear the result of the Federal Open Market Committee (FOMC) session on September 21-22 would pressure the index.
"However, mass buy-ups of stocks which gained specific positive sentiment and whose third-quarter profit is expected to rise would help boost the index," Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ HANA, KCE, TU, CPF, GFPT, ASIAN, EPG, NER, SUN and APURE, which benefit from the weakening baht.
▪︎ BANPU, LANNA, CKP, GULF, CHG, BCH and BDMS, whose third-quarter profit is expected to rise.
