Sun, October 17, 2021

business

SET expected to rise on US short-term debt ceiling extension


The Stock Exchange of Thailand (SET) Index rose by 8.28 points or 0.51 per cent to 1,642.00 on Friday morning, witnessing a high of 1,644.16 and a low of 1,640.73 in opening trade.

Krungsri Securities expected the day's index would rise to between 1,640 and 1,645 points after the US Senate had reached an agreement to extend debt limit until December, enabling Washington to cope with risks of default payments.

It added that the index also gained positive sentiment from the decline in US jobless claims, rising oil price and hopes over Thailand reopening.

It also recommended buying of the following companies’ shares as an investment strategy:

▪︎ PTT, PTTEP, TOP, PTTGC, SPRC, BCP and IVL, which benefit from rising oil price

▪︎ AOT, KBank, SCB, CPN, CRC, HMPro, AAV, BA, MINT, Amata, WHA and Major, which benefit from the country reopening.

▪︎ Hana, KCE, TU, Asian and NER, which benefit from weakening baht.

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The SET Index closed at 1,633.72 on Thursday, up 14.24 points or 0.88 per cent. Transactions totalled 100.94 billion baht with an index high of 1,637.82 and a low of 1,624.59.

Published : October 08, 2021

By : THE NATION