SET forecast to rebound on Friday
The Stock Exchange of Thailand (SET) Index is expected to rebound to between 1,675 and 1,680 points on Friday as regional stock markets recover from sharp falls on Thursday, Krungsri Securities said.
It added that the 7-per-cent growth in US fourth-quarter GDP last year would help boost the index.
"However, uncertainty over Russia-Ukraine tensions after the Russia invaded Ukraine, as well as rising Covid-19 cases in Thailand, would pressure the index," Krungsri Securities said.
It recommends the purchase of the following as an investment strategy:
• KBANK, BBL, TTB, KTB, SCB and BLA will benefit from news of the US interest rate hike.
• PTTEP, TOP, SPRC and BCP will benefit from the rising price of oil and gross refining margin.
• BDMS, INTUCH, ADVANC and HTC, which are defensive stocks that offer stability.
The SET Index closed at 1,662.75 on Thursday, down 33.73 points or 1.92 per cent. Transactions totalled 126.55 billion baht.
