SET faces pressure over Fed signals, TFEX move

Krungsri Securities predicted the day’s index would fall to between 1,600 and 1,610 points due to uncertainty over higher US inflation and the Federal Reserve signalling it would taper its quantitative easing and raise the interest rate sooner than expected.

Meanwhile, the conflict in approval of the US draft budget act and a debt ceiling hike, as well as TFEX’s move to change the series in the futures exchange market would pressure the index, Krungsri Securities said.

It recommended purchasing of the following companies’ shares as an investment strategy:

▪︎ Hana, KCE, TU, CPF, GFPT, Asian and NER, which benefit from a weakening baht.

▪︎ Banpu, Lanna, DCC, Cotto and Tasco, which have gained specific positive sentiment.

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The SET Index closed at 1,616.50 on Tuesday, down 3.52 points or 0.22 per cent. Transactions totalled THB98.94 billion with an index high of 1,626.55 and a low of 1,614.31.