FRIDAY, March 29, 2024
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Spectrum auction for 5G boosts SET morning trade

Spectrum auction for 5G boosts SET morning trade

The SET Index rose by 3.38 points, or 0.22 per cent, to 1,529.68 with Bt22.18 billion worth of trading in Monday’s morning session (February 17).

Krungsri Securities has predicted that the SET Index on Monday will range between 1,520 and 1,540 due to lack of new positive factors. Telecommunication stocks are expected to benefit from the 5G spectrum licence auction on Sunday.
A stock analyst at Krungsri Securities said that the outbreak of the novel coronavirus (Covid-19) is not resolved yet, while the global trade war might restart after the US announced an increase in import tariff on European Union aircraft.
“We suggest following the National Economic and Social Development Council announcement of gross domestic product results in the fourth quarter of 2019. A Bloomberg consensus expected the economy to expand only 1.9 per cent, lower than the previous quarter of 2.4 per cent, resulting in negative sentiment towards bank stocks,” the stock analyst said.
“However, some stocks still have positive factors, such as telecommunication stocks which may benefit after the bidding for 5G spectrum licences on Sunday (February 16) was not as intense as the market feared.”
The analyst recommended four groups of stocks for investors:
● Contractor and industrial estate stocks such as STEC, CK, SEAFCO, AMATA and WHA will benefit from the approval of the national budget for fiscal 2020.
● Energy stocks such as TOP, PTTGC and SPRC will benefit from the rising oil price. 
● Financial stocks such as MTC, SAWAD and KTC will benefit from reduced financial costs after the Monetary Policy Committee cut the interest rate by 0.25 per cent.
● Exporters and food stocks KCE, HANA, DELTA, CPF and TU will benefit from the weakening of the baht.

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