Worries over inflation and falling oil price are expected to pressure SET
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Thursday (November 11) would fall to between 1,620 and 1,625 points due to uncertainty over inflation after the US Consumer Price Index in October has risen by 6.2 per cent year on year, the highest in 30 years.
It added that the index would be under pressure due to falling oil price in response to the rise in US oil storage.
However, the index would rebound from mass buy ups of stocks that benefit from country reopening, as well as shares whose third-quarter profit is expected to grow, Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ AOT, AAV, BA, MINT, KBANK, SCB, CPN, CRC, HMPRO, CPALL, AMATA, WHA, BTS, BEM, VGI, BH and BDMS, which benefit from the country reopening.
▪︎ PSL and TTA, which benefit from rising freight rate.
