SET Index expected to fall on Friday as war fallout hits US inflation
The Stock Exchange of Thailand (SET) Index is expected to fall to between 1,635 and 1,640 points on Friday after peace talks between Russia and Ukraine made no progress, Krungsri Securities said.
It added that the 7.9 per cent rise in the US Consumer Price Index, the highest in 40 years, would trigger the Federal Reserve to tighten its monetary policy, further pressuring the index.
"Hence, we advise investors to buy stocks that enjoy specific positive sentiment," Krungsri Securities said.
It recommends the purchase of the following as an investment strategy:
• SCC, GPSC, BGRIM, SCGP and EPG will benefit from falling stocks and oil prices.
• TOP, SPRC, BCP and ESSO will benefit from the rising gross refining margin price.
• PSL and TTA will benefit from the rising freight rate.
The SET Index closed at 1,647.08 on Thursday, up 3.44 points or 0.21 per cent. Transactions totalled 100.15 billion baht with an index high of 1,659.29 and a low of 1,643.39.
