SET expected to fluctuate amid surging domestic Covid-19 cases, interest rate hike concerns
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Friday (January 7) would fluctuate between 1,645-1,665 points.
It said the index gained positive sentiment from the rise in other Asian indices and rising oil prices of almost US$80 per barrel.
However, it predicted that uncertainty over the US Federal Reserve signalling it would raise interest rate sooner than expected and rising domestic Covid-19 infections would pressure the index.
Thailand recorded 7,526 Covid-19 cases and 19 deaths on Friday.
It also recommended buying of the following companies’ shares as an investment strategy:
- BCH, CHG, IMH, SMD and TM, which benefit from rising Covid-19 cases.
- RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.
- PTTEP, TOP, PTTGC, IVL and SPRC, which benefit from rising oil price and gross refining margin.
- BBL, TTB, KBANK and BLA, which benefit from news of interest rate hike.
The SET Index closed at 1,653.40 on Thursday, down 23.78 points or 1.42 per cent. Transactions totalled 106.47 billion baht with an index high of 1,666.22 and a low of 1,653.03.
Top five stocks with the highest trade value were KBANK, EA, PTT, KCE and CPF.
