SET likely to fluctuate over oil price rise
The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,630 and 1,650 points on Wednesday amid rising oil prices in response to tension between the US and Russia over Ukraine, Krungsri Securities said.
It said the index gained positive sentiment from mass buy-ups of value stocks by foreign investors.
“However, investors should beware of mass sell-offs that could follow the US Federal Reserve’s decision on the interest rate,” Krungsri Securities said.
It recommends investors purchase shares of the following companies as an investment strategy:
• BBL, KBank, KTB and BLA, which will benefit from news of a US interest rate hike.
• PTTEP, Top, PTTGC, IVL and SPRC, which will gain from the rising price of oil and the gross refining margin.
• AOT, Mint, Centel, ERW and AAV, which will benefit from the relaunch of the Test & Go scheme and the fourth phase of the “Rao Tiew Duay Kan” (We Travel Together) travel subsidy.
The SET Index closed at 1,639.09 on Tuesday, down 1.45 points or 0.09 per cent. Transactions totalled 84.77 billion baht with an index high of 1,641.68 and a low of 1,624.29.
