Saturday, July 04, 2020

Revival of economic activity augurs well for SET

Jun 04. 2020
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By THE NATION

The Stock Exchange of Thailand (SET) Index would rise to 1,390 points to 1,400 points, after the economy passed its lowest point amid the Covid-19 outbreak and many countries lifted their lockdowns, Krungsri Securities analysts said on Thursday (June 4).

The index, moreover, was supported by the purchasing managers index (PMI) of China’s service sector and US employment numbers. The PMI rose to 55 points in May, while private sector employment decreased to 2.76 million.

This raised net buys by foreign investors to around Bt3.5 billion, since the beginning of this month.

On Thursday, the Opec+ members will hold a meeting to decide whether oil production should be reduced, the Krungsri analysts added.

The analysts advised investors to buy AMATA and WHA, while the Transport Ministry works to conclude the East Economic Corridor infrastructure.

Energy stocks, such as PTT, PTTEP, TOP, PTTGC, IRPC, SPRC and IVL, are good buys at this time when crude oil price was over $36 per barrel.

They also recommended CKP, TASCO, STA and RS, as they could grow in the second quarter. The analysts informed that BPP and TTW would be included in the SET50, and ACE, DOHOME, RBF, SIRI, SISB, TVO and WHAUP in the SET100.

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