SET expected to fall amid falling oil price, QE tapering worries
THE NATION
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Thursday (October 28) would fall to between 1,615 and 1,620 points.
It said negative sentiment of falling oil price after the US oil storage had risen by 4.3 million barrels, plus mass sell-offs of shares amid worries over the European Central Bank would taper its quantitative easing (QE) programme during the meeting today, would pressure the index.
"However, mass buy-ups of shares whose third-quarter profit is expected to grow would help the index to rebound," Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ GULF, CHG, BCH, BDMS, KCE and JMT, whose third-quarter profit is expected to grow.
▪︎ HMPRO, CPALL, TNP and KK, which benefit from the government's economic stimulus measures.
