Sat, October 16, 2021

in-focus

SET moves up on hopes of US stimulus package, Japan's GDP growth


The Stock Exchange of Thailand (SET) Index rose by 7.69 points, or 0.51 per cent, to 1,516.04 in the morning session on Monday.

A Krungsri Securities analyst expected the SET to rebound to between 1,520 and 1,525 on hopes of a rollout of the US economic relief package, rising oil price, and 12.7 per cent growth in Japan's fourth-quarter gross domestic product.

"However, investors should beware of mass sell-offs of stocks due to tight index valuation," he warned, adding that the SET price to earnings ratio was 30 times.

He recommended that investors buy:

▪︎ PTTGC, TOP, IVL, VNT, CBG, ROJNA, TVO, STGT, HTC, CPF, RCL, PSL, SYNEX, COM7, XO, WICE, JMT, JMART, SINGER, MTC, SAWAD, KCE, AH and SAT, whose fourth-quarter results are expected to improve.

▪︎ CBG, ICHI, OSP, SAPPE, RBF, DOD and PTG, which benefit from positive news on hemp production and its general use.

The SET Index closed at 1,508.35 on Thursday, down 8.59 points or 0.57 per cent. Total transactions amounted to Bt106.41 billion with an index high of 1,521.31 and a low of 1,503.19.

The SET Index was closed on Friday for Chinese New Year.

Published : February 15, 2021

By : The Nation