SET Index expected to fluctuate as investors watch key Fed meeting
The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,635 and 1,655 points on Wednesday as investors await the results of a key US Federal Reserve meeting and peace talks between Russia and Ukraine, Krungsri Securities said.
It expected the Fed to raise the interest rate by 0.25 per cent to tackle inflation.
Meanwhile, a sharp fall in the oil price and China’s move to lock down Shenzhen to curb Covid-19 for a week would pressure the index, Krungsri Securities said.
It recommends purchase of the following as an investment strategy:
• KBank, BBL, TTB, KTB and BLA, which would benefit from a rising US bond yield and news of a US interest rate hike.
• GSPC, BGrim, SCGP, Gulf and EPG, which would gain from the falling oil price.
• BCH, CHG, BDMS, BH, Advanc and Intuch, which are defensive stocks.
The SET Index closed at 1,644.36 on Tuesday, down 15.79 points or 0.95 per cent. Transactions totalled 82.50 billion baht with an index high of 1,663.32 and a low of 1,639.90.
