SET overshadowed by Fed interest rate decision, China Covid scare
The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,650 and 1,670 points on Tuesday as the latest round of peace talks between Russia and Ukraine have not reached a conclusion, Krungsri Securities said.
It added that the index would be affected by investors delaying trades to follow the US Federal Reserve’s decision on whether to raise the interest rate at its meeting on Tuesday-Wednesday.
"Meanwhile, the sharp fall in the oil price and China's move to lock down Shenzhen city to curb Covid-19 for a week would pressure the index," Krungsri Securities said.
It recommends 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 1,660.15 on Monday, up 2.14 points or 0.13 per cent. Transactions totalled Bt65.21 billion with an index high of 1,662.66 and a low of 1,651.90.
