QE tapering and 3Q performance announcement are expected to pressure SET
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Monday (November 8) would fluctuate between 1,615 and 1,635 points.
It said the index gained positive sentiment from the decline in US jobless claims, the efficiency result of Pfizer's Covid-19 pill and rising oil price.
However, fund flow volatility due to the US Federal Reserve's move to taper its quantitative easing programme and third-quarter performance announcement 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, BGRIM, CHG, BCH, BDMS, KCE and JMT, whose third-quarter profit is expected to grow.
▪︎ AOT, KBANK, SCB, CPN, CRC, HMPRO, CPALL, AMATA, WHA, BTS, BEM and VGI, which benefit from the country reopening.
