SET pressured by Ukraine invasion fears, US interest rate hike
The Stock Exchange of Thailand (SET) Index is expected to move between 1,675 and 1,680 points on Tuesday amid worries of Russia invading Ukraine, Krungsri Securities said.
Uncertainty over the US Federal Reserve's move to raise the interest rate to combat rising inflation would also pressure the index, it said.
"However, higher oil price and mass buy-ups of company shares that are expected to grow based on their business turnover last year would help boost the index," Krungsri Securities said.
It recommends the purchase of the following as an investment strategy:
• PTTEP, TOP, PTTGC, IVL, SPRC and BCP will benefit from the rising price of oil and gross refining margin.
• BBL, KBANK, KTB, SCB, TTB, BLA and THREL will benefit from news of the US interest rate hike.
• IVL, TOP, SPRC, GULF, BANPU, TU, CPF, SPALI, ORI, WHA, AMATA, HMPRO, CPN, CRC, BLA, NER, ITEL, XO, ASK, UBE, FORTH, TH and SNNP that are expected to grow based on their business turnover last year.
The SET Index closed at 1,684.69 on Monday, down 14.51 points or 0.85 per cent. Transactions totalled 86.37 billion baht with an index high of 1,694.19 and a low of 1,680.83.
