SET expected to rise on good news of Omicron Covid-19 variant, rising oil price
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Tuesday (December 7) would rise to between 1,595-1,600 points.
It said the index gained positive sentiment from the good news that Omicron patients in Africa have developed mild symptoms. It added that rising oil price would also help boost the index.
However, Krungsri Securities predicted that uncertainty over US Federal Reserve would end its quantitative easing programme and raise interest rate in response to higher inflation would pressure the index.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.
▪︎ HANA, KCE, TU, ASIAN, EPG and XO, which benefit from the weakening baht.
▪︎ BBL, TTB, KTB and KBANK, which benefit from news of interest rate hike.
