Tensions over Ukraine may pull SET down to 1,630 points
The Stock Exchange of Thailand (SET) Index is expected to fall to the support level of 1,630 points on Tuesday due to tension between the US and Russia over Ukraine, Krungsri Securities said.
It added that investors will possibly delay their investment as they await the US Federal Reserve’s decision on the direction the economy, inflation and the interest rate will take. The Fed Reserve is set to meet on Tuesday and Wednesday.
However, mass buy-ups of company shares whose business turnover is expected to grow and those that have gained positive sentiment will help shore up the index, Krungsri Securities said.
It recommends the purchase of the following as an investment strategy:
• AOT, MINT, CENTEL, ERW and AAV will benefit from the government’s move to relaunch the Test & Go scheme and the fourth phase of the “Rao Tiew Duay Kan” (We Travel Together) travel subsidy.
• BBL, TTB, KBANK, KTB and BLA will benefit from news of the US interest rate hike.
• EA, GPSC, AMATA, WHA, AH and STANLY will benefit from the government's electric vehicle promotion policy.
The SET Index closed at 1,640.54 on Monday, down 12.19 points or 0.74 per cent. Transactions totalled 76.90 billion baht with an index high of 1,654.99 and a low of 1,639.14.
