SET Index forecast to slide further on Monday over Fed rate fears
The Stock Exchange of Thailand (SET) Index is expected to fall to between 1,665 and 1,670 points on Monday after the US Federal Reserve announced inflation had to be tackled as soon as possible, Krungsri Securities said.
The announcement sparked concern the Fed would raise the interest rate by 0.50 per cent in May, it said.
It added that the SET Index would also be under pressure from the falling oil price.
"However, window dressing and speculation in some stocks will help the index to rebound," Krungsri Securities said.
It recommended the purchase of the following as an investment strategy:
• GPSC, BGRIM, SCGP and EPG would benefit from falling oil price.
• BDMS, BH, INTUCH, ADVANC, BTS and BEM which are defensive stocks.
• TTB, BBL, PTTEP, TOP, SPRC, BCP, IVL, FORTH, HMPRO, CPALL, MAKRO, OSP and TWPC, whose first-quarter business turnover this year are expected to grow.
The SET Index closed at 1,676.80 on Friday, down 4.09 points or 0.24 per cent. Transactions totalled 62.11 billion baht.
