SET expected to rise on the US infrastructure bill, country reopening trend
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Tuesday (November 9) would rise to between 1,630 and 1,635 points as the US Congress has passed a US$1 trillion infrastructure package in a bid to boost the economy.
It said the index also gained positive sentiment from country reopening trend after Pfizer's antiviral pill showed 89 per cent effectiveness against Covid-19.
However, fund flow volatility during the third-quarter performance announcement, as well as mass sell-offs of shares in response to stock market technical signals, would pressure the index, Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ PTT, PTTEP, TOP, PTTGC, IVL, SPRC and BCP, which benefit from rising oil price and gross refining margin.
▪︎ AOT, AAV, BA, MINT, KBANK, SCB, CPN, CRC, HMPRO, CPALL, AMATA, WHA, BTS, BEM and VGI, which benefit from the country reopening.
