By The Nation
A stock analyst of the company said earlier that the market remained under pressure from the coronavirus outbreak with the number of patients in China increasing to 5,974 while 132 had died from infection.
Meanwhile, foreigner investors continue to sell their holding on the SET.
“However, the market has benefited from the recovery of the US market, rebound of 10-years US Bond yield, and weakening gold price, all of which support short-term investments,” he said.
The analyst suggested investors follow the Federal Open Market Committee (FOMC) meeting on January 28-29, expecting the Federal Reserve (Fed) to keep interest rate unchanged at 1.75 per cent.
The analyst recommended three groups of stocks for investors:
● Energy stocks which will benefit from the increasing oil prices, such as TOP, PTTGC and SPRC.
● Electronic component importers and food stocks which will benefit from the strengthening baht, such as KCE, HANA, DELTA, CPF, TFG and TU
● Defensive stocks whose earnings in the fourth quarter of 2019 were expected to be good, inckuding GPSC, GULF, JMT, CPF, SAWAD, MTC, BTS, BEM, INTUCH, ADVANC, OSP, and CBG.
The SET Index rose 6.82 points or 0.45 per cent to 1,520.08 in the morning session on Wednesday (January 29).