SET expected to hit resistance level on positive news of Covid-19 vaccines, pills
Krungsri Securities expected the Stock Exchange of Thailand (SET) Index on Friday (December 24) to rise to the resistance level between 1,650-1,660 points.
It said the index gained positive sentiment from positive news stating that AstraZeneca and Novavax Covid-19 vaccines, including Paxlovid and Molnupiravir antiviral pills, were effective against Omicron variant which helps alleviate concerns among investors.
However, it advised investors to beware of mass sell-offs of shares in response to technical signs as it would pressure the index.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ HMPRO, CPN, CRC, AMATA, WHA, VGI, SYNEX, COM and JMART, which are domestic play stocks.
▪︎ RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.
▪︎ EA, GPSC, AMATA, WHA, AH and SAT, which benefit from the government's support on electric vehicles.
