SET expected to fall despite ECB positive meeting outcome
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Friday (October 29) would fall to between 1,615 and 1,620 points.
It said the index gained positive sentiment from the European Central Bank's decision to maintain the interest rate at 0 per cent and continue on quantitative easing programme until March next year.
"However, investors would continue delaying investment to follow the US Federal Open Market Committee meeting next week as it is expected that the committee would taper its quantitative easing programme," Krungsri Securities said.
"Meanwhile, mass sell-offs of shares in line with market technical signs would pressure the index."
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ GULF, BGRIM, 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.
