The index started to slow on Thursday between 1,530 and 1,541 due to selling pressure for power plant stocks (GULF, GPSC and BGRIM), while all regional markets reflected optimism about an imminent end to the coronavirus situation.

Foreign investors sold stocks worth a combined Bt2.37 billion and there were 2,356 short-term S50 Futures contracts.

Senior Tisco Securities strategist Apichat Poobunjirdkul said global stocks had risen for four consecutive days.

“US stocks closed at a new high after China cut import tariffs on $75 billion worth of US products from 5-10 per cent to 2.5-5 per cent, which will take effect on February 14 as part of the first phase of its trade agreement with the US. The US will cut tariffs on $112 billion worth of Chinese products from 15 to 7.5 per cent,” he reported.

“The West Texas Intermediate crude oil price rose by 20 cent after Opec said it might reduce production capacity by 600,000 barrels per day to maintain price stability amid the coronavirus scare.”

Apichat believes investors are also waiting for a Constitutional Court verdict on the validity of the fiscal 2020 budget, expected Friday evening.

“We believe the court will provide a solution that doesn’t delay budget disbursement further, and Thai stocks will benefit if it’s decided the draft budget bill is constitutional,” he said.

Investors should pursue short-term trades while the SET index is recovering, he suggested.

His picks for February and AP, EASTW, ERW, KKP, RBF and TASCO and for the full year CPALL, BJC, AEONTS, PLANB, AOT, PTTEP, PTT, TOP, SPRC, SPALI and KKP.