Falling oil price in response to Opec+ meeting outcome casts shadow on SET
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Friday (November 5) would fluctuate between 1,620 and 1,635 points.
It said the index gained positive sentiment from foreign fund inflow in response to the US Federal Reserve's move to maintain interest rate and taper quantitative easing by US$15 billion per month.
However, the index would be under pressure due to falling oil price after the Opec+ has declared to raise oil output by 400,000 barrels per day in December, Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ GULF, BGRIM, CHG, BCH, BDMS, KCE and JMT, whose third-quarter profit is expected to grow.
▪︎ AOT, KBANK, SCB, CPN, CRC, HMPRO, CPALL, AMATA, WHA, BTS, BEM and VGI, which benefit from the country reopening.
