SET Index expected to rise, but feel the heat of Russia-Ukraine war
The Stock Exchange of Thailand (SET) Index is expected to rise to between 1,700 and 1,705 points on Thursday after an increase in the prices of crude oil and coal on the heels of sanctions against Russia, Krungsri Securities said.
Meanwhile, the US Federal Reserve signalling that it would raise the interest rate by 0.25 per cent each time would help boost the index, Krungsri Securities said.
“However, the index would be under pressure due to the war between Russia and Ukraine,” it added.
Krungsri Securities advised investors to closely follow the Fed’s monetary policy and US economic results to be announced on Thursday.
It recommends the purchase of the following as an investment strategy:
• PTTEP, PTT, Top, SPRC, BCP, Banpu and Age, which would benefit from the rising energy prices.
• PSL and TTA, which would gain from a rising freight rate.
• BDMS, Intuch, Advanc and Dtac, which are “defence” stocks.
The SET Index closed at 1,689.81 on Wednesday, down 4.47 points or 0.26 per cent. Transactions totalled 107.13 billion baht with an index high of 1,699.58 and a low of 1,684.53.
