SET expected to fluctuate despite rising oil price, LTV relaxation
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Tuesday would fluctuate between 1,625 and 1,645 points.
It said the index gained positive sentiment from rising oil price in line with economic recovery and the Bank of Thailand's move to relax loan-to-value (LTV) mortgage rule.
"However, uncertainty over the US Federal Reserve's move to taper its quantitative easing on November 2-3 and mass sell-offs of shares whose third-quarter performance is expected to drop would pressure the index," Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ PTT, PTTEP, TOP, PTTGC, SPRC and BCP, which benefit from rising oil price and gross refining margin.
▪︎ GULF, CHG, BCH, BDMS, KCE, PSL, TTA, BANPU and LANNA, whose third-quarter profit is expected to grow.
▪︎ HMPRO, CPALL, TNP and KK, which benefit from the government's economic stimulus measures.
