SET expected to be pressured by worries over QE tapering
The Stock Exchange of Thailand (SET) Index rose by 9.97 points or 0.62 per cent to 1,615.14 on Monday morning, witnessing a high of 1,616.01 and a low of 1,610.96 in opening trade.
Krungsri Securities predicted the day's index would fluctuate between 1,600 and 1,615 points despite positive sentiment of rising oil and coal prices, plus hopes over Thailand reopening after the domestic Covid-19 case has declined.
However, it said uncertainty over the US Federal Reserve signalling it would taper its quantitative easing and raise the interest rate sooner than expected, plus the conflict in US Congress corporate income tax hike, would pressure the index.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ Banpu, Lanna, DCC, Cotto and Tasco, which gained its specific positive sentiment.
▪︎ PTT, PTTEP, TOP, PTTGC, SPRC and IVL, which benefit from rising oil price.
▪︎ AOT, KBank, SCB, BBL, CPN, CRC, HMPro, AAV, BA, MINT, Amata and WHA, which benefit from the country reopening.
The SET Index closed at 1,605.17 on Friday, down 0.51 points or 0.03 per cent. Transactions totalled 75.66 billion baht with an index high of 1,609.48 and a low of 1,593.32.
