Index all set to seesaw today
The Stock Exchange of Thailand (SET) Index rose by 4.64 points or 0.29 per cent to 1,619.50 on Wednesday morning, witnessing a high of 1,620.76 and a low of 1,614.19 in opening trade.
Krungsri Securities predicted the day’s index would fluctuate between 1,605 and 1,625 points as investors were expected to delay trading as they watch and see whether the US Federal Open Market Committee will go ahead and taper its vital quantitative easing programme.
In addition, it said uncertainty over a default by China’s Evergrande, besides a US corporate tax hike and a weakening baht could trigger fund outflows, all of which would have an impact on the index.
“Hence, we advise investors to buy stocks which have gained specific positive sentiment,” Krungsri Securities said.
It recommended purchasing of the following companies’ shares as an investment strategy:
▪︎ Hana, KCE, TU, CPF, GFPT, Asian, EPG, NER, Sun and APure, which benefit from a weakening baht.
▪︎ Banpu, Lanna, CKP, Gulf, CHG, BCH and BDMS, whose third-quarter profit is expected to rise.
Related stories:
- Baht might weaken by risk-off market pressure: market strategist
- Markets wrap: Stocks fall after dip buying enthusiasm wanes
- Thai stocks rebound after sharp fall on Monday
The SET Index closed at 1,614.86 on Tuesday, up 11.80 points or 0.74 per cent. Transactions totalled THB83.91 billion with an index high of 1,618.19 and a low of 1,591.81.
