FRIDAY, March 29, 2024
nationthailand

Trickle of good news seen buoying SET

Trickle of good news seen buoying SET

China’s announcement of fresh economic stimulus measures and a cut in the loan prime rate to offset damage being caused by the Covid-19 virus has Krungsri Securities confident that the Stock Exchange of Thailand (SET) index will rebound by 1,515-1,520 points.

Other markets have picked up steam and energy stocks should rise along with the price of oil, which bobbed up 2.4 per cent after Washington imposed extraction limitations on Venezuelan oil, Krungsri stock analysts said in a report on Thursday (February 20).
“However, investors should be cautious of short-term profit-taking, as well as the 2019 financial summaries, which will pressure the index.”
Four types of stocks are recommended:
● Energy stocks set to rise with the oil price such as PTTEP, TOP and SPRC
● Exporter and food stocks, which will benefit from weakening baht, such as KCE, HANA, DELTA, CPF and TU
● Financial stocks, which will benefit from reduced financial costs after the Monetary Policy Committee cut the interest rate by 0.25 per cent, such as MTC, SAWAD and KTC
● Stocks expected to pay high dividends, such as TISCO, SIRI and LH
In Thursday’s morning session, the SET Index fell by 11.96 points or 0.79 per cent, to 1,493.58, with a trade value of Bt46.53.

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