New Covid restrictions, volatile foreign funds flow dampen SET sentiment
The Stock Exchange of Thailand (SET) Index fell by 9.38 points, or 0.59 per cent, to 1,573.29 on Monday morning.
The SET Index closed at 1,582.67 on Friday, down 3.05 points or 0.19 per cent. Transactions totalled THB68.1 billion with an index high of 1,596.16 and a low of 1,577.63.
Krungsri Securities has forecast that the SET Index would fall to 1,570 points despite the US Federal Reserve signalling it was in no hurry to hike the interest rate, and oil price continuing to rise.
It said the index, instead, would be under pressure due to the government's move to announce new restrictions to curb Covid-19 in Bangkok and 10 provinces, plus the volatility of foreign funds flow.
It recommended that investors buy:
▪︎ PTT, PTTEP and BANPU, which benefit from the rising oil price.
▪︎ HANA, KCE, TU and CPF, which benefit from the weakening baht.
▪︎ BCH, CHG, BDMS and CKP, whose second-quarter business turnover is expected to improve.
