SET expected to fluctuate as Fed ready for interest rate hike, QE tapering
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Thursday (November 25) would fluctuate between 1,640-1,660 points.
It predicted that the index would be under pressure due to fund flow volatility after the US Federal Reserve said the central bank is ready to raise the interest rate and taper quantitative easing programme to deal with rising inflation.
It added that the resistance level at 1,660 points would also pressure the index.
"However, mass-buy ups of stocks which gained specific positive sentiment would help boost the index," Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ BANPU and AGE, which benefit from rising coal price.
▪︎ HANA, KCE, TU, ASIAN, NER, EPG and XO, which benefit from the weakening baht.
▪︎ BBL, TTB, KTB, KBANK and BLA, which would benefit from the rising interest rate.
