SET rallies over mass buy-ups, easing of Covid-19 measures despite rising US CPI figures
The Stock Exchange of Thailand (SET) Index is expected to move between 1,690 and 1,695 points on Friday amid worries about inflation in the US since its Consumer Price Index (CPI) in January rose by 7.5 per cent year on year, Krungsri Securities said.
It said the CPI rise in January caused the US 10-year bond yield to jump over 2 per cent and would trigger the Federal Reserve to raise the interest rate to tackle inflation.
"However, mass buy-ups of company shares that are expected to grow based on their business turnover last year and the Centre for Covid-19 Situation Administration [CCSA]'s move to ease disease prevention measures today would help boost the index," Krungsri Securities said.
It recommends the purchase of the following:
• BBL, KBANK, KTB, BLA and THREL will benefit from news of the US interest rate hike.
• PSL and TTA will benefit from the rising freight rate.
• AOT, MINT, CENTEL, ERW, AAV, HMPRO, CPALL, CPN and CRC will benefit from CCSA's move to ease Covid-19 prevention measures.
• IVL, TOP, SPRC, GULF, BANPU, TU, CPF, SPALI, ORI, WHA, AMATA, HMPRO, CPN, CRC, BLA, NER, ITEL, XO, ASK, UBE, FORTH, TH and SNNP are expected to grow based on their business turnover last year.
The SET Index closed at 1,703 on Thursday, down 0.16 points or 0.01 per cent. Transactions totalled 112.33 billion baht with an index high of 1,707.44 and a low of 1,696.73.
