SET expected to rise on the US infrastructure bill, country reopening trend
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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.
