Falling oil price, mass share sell-offs to pressure SET Index
The Stock Exchange of Thailand (SET) Index is expected to rise to between 1,655 and 1,660 points on Thursday on hopes of negotiations between Russia and Ukraine, which could lead to an end of the war, Krungsri Securities said.
However, it predicted the falling oil price and mass share sell-offs to cope with the US Consumer Price Index (CPI) results would pressure the index.
It added that the results, to be announced today, are expected to rise by 7.9 per cent year on year.
Krungsri Securities recommends purchase of the following as an investment strategy:
• SCC, GPSC, BGrim, SCGP, EPG and Tasco, which would benefit from falling stocks and oil prices.
• KBank, BBL, TTB and KTB, which would gain from the rising US bond yield and news of a US interest rate hike.
• PSL and TTA, which would benefit from an increase in the freight rate.
The SET Index closed at 1,643.64 on Wednesday, up 24.54 points or 1.52 per cent. Transactions totalled 115.03 billion baht with an index high of 1,643.87 and a low of 1,610.34.
