SET expected to fluctuate amid hopes over Thailand economic recovery, rising oil price
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Tuesday (January 4) would fluctuate between 1,665-1,670 points.
It said the index still gained positive sentiment from relief in concerns over Omicron, rising oil prices, and hopes over Thailand economic recovery.
"However, mass sell-offs of shares in response to technical signs would pressure the index," Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
- HMPRO, CPN, CRC, 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.
- PTTEP, TOP, PTTGC, IVL and SPRC, which benefit from rising oil price and gross refining margin.
- BBL, TTB, KTB and KBANK, which benefit from news of interest rate hike.
