Fed interest rate hike signal, rising Covid-19 cases expected to pressure SET
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Monday (January 10) would fluctuate between 1,650-1,670 points due to lack of positive sentiment.
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.
"Hence, we advise investors to buy stocks which gained specific positive sentiment," Krungsri Securities said.
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.
- BBL, TTB, KBANK and BLA, which benefit from news of interest rate hike.
The SET Index closed at 1,657.62 on Friday, up 0.28 per cent, with transactions totalled 89.09 billion baht.
