Russia-Ukraine tension, US interest rate hike to pressure SET
The Stock Exchange of Thailand (SET) Index is expected to move between 1,690 and 1,695 points on Monday amid uncertainty over rising Russia-Ukraine tensions, Krungsri Securities said.
Uncertainty over the US Federal Reserve’s move to raise the interest rate to tackle inflation is also pressuring the index.
"However, the sharp rise in oil price and mass buy-ups of company shares that are expected to grow based on their business turnover last year would help boost the index," Krungsri Securities said.
It recommends the purchase of the following as an investment strategy:
• PTTEP, TOP, PTTGC, IVL, SPRC and BCP will benefit from the rising price of oil and gross refining margin.
• BBL, KBANK, KTB, SCB, TTB, BLA and THREL will benefit from news of the US interest rate hike.
• IVL, TOP, SPRC, GULF, BANPU, TU, CPF, SPALI, ORI, WHA, AMATA, HMPRO, CPN, CRC, BLA, NER, ITEL, XO, ASK, UBE, FORTH, TH and SNNP are expected to grow based on their business turnover last year.
The SET Index closed at 1,699.20 on Friday, down 3.8 points or 0.22 per cent. Transactions totalled 95.43 billion baht with an index high of 1,703.95 and a low of 1,690.69.
