SET expected to rise on Monday as Russia-Ukraine fears ease
The Stock Exchange of Thailand (SET) Index is expected to rise to between 1,665 and 1,670 points on Monday in response to positive developments in the Russia-Ukraine conflict, Krungsri Securities said.
However, it forecast the index will be pressured by the falling crude oil price and mass sell-offs of shares to manage risk from the US Federal Reserve meeting on Tuesday and Wednesday (March 15-16).
"The Fed is expected to raise the interest rate to deal with inflation," Krungsri Securities explained.
It recommended the purchase of the following as an investment strategy:
• KBANK, BBL, TTB, KTB and BLA will benefit from news of US interest rate hike.
• PSL and TTA will benefit from the rising freight rate.
• GSPC, BGRIM, SCGP, GULF and EPG will benefit from falling oil prices.
The SET Index closed at 1,658.01 on Friday, up 10.93 points or 0.66 per cent. Transactions totalled 78.49 billion baht with an index high of 1,659.67 and a low of 1,637.93.
