SET expected to rise on Omicron-related positive news, rising oil price
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Tuesday (December 28) would rise to the resistance level between 1,645-1,650 points.
It said the index gained positive sentiment from the recent report, stating that Omicron patients developed mild symptoms compared to other variants, plus rising oil prices of above US$75 per barrel.
It added that mass buy-ups of Super Savings Funds and Retirement Mutual Funds to gain tax exemption also help boost the index.
"However, the index would be under pressure due to foreign fund flow slowdown and mass sell-offs of shares in response to technical signals," Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
- HMPRO, CPN, CRC, AMATA, WHA, VGI, SYNEX, COM7 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.
