Interest rate hike concerns expected to pressure SET
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Friday (January 14) would fall to between 1,670-1,675 points as other Asian indices have fallen due to uncertainty over the US Federal Reserves move to raise the interest rate during the meeting on March 15-16.
However, it predicted that the index would rebound from mass buy-ups of stocks to gain high returns, especially shares that gained specific positive sentiment.
It also recommended buying of the following companies’ shares as an investment strategy:
- 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.
- RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.
The SET Index closed at 1,680.02 on Wednesday, up 1.52 points or 0.09 per cent. Transactions were totalled 82.46 billion baht with an index high of 1,682.71 and a low of 1,675.74.
Top five stocks with the highest trade value were KBANK, SCB, SAWAD, GULF and PTT.