The SET index last Friday (February 7) fluctuated between 1,527 and 1,539 points, same as the previous day, after the Constitutional Court ruled that MPs should re-vote on the Bt3.2-trillion budget bill to make it constitutional.

Foreign investors sold their stocks totalling Bt892 million for three consecutive days, while there were 2,935 long-term S50 Futures contracts.

Senior Tisco Securities strategist Apichat Poobunjirdkul said yesterday (February 10) European stocks fell slightly due to uncertainty amid the coronavirus crisis, while US stocks rose to a new high as Chinese business and industrial sectors resumed operations after a long holiday.

“Meanwhile, the Chinese government and central bank plan to inject liquidity and grant special loans to the private sector to mitigate the impact of the coronavirus epidemic,” he said.

“The West Texas Intermediate crude oil price fell by 75 cents, the lowest in more than a year, to $49.57 [Bt1,549.37] per barrel because Russia has not made its stance clear on Opec’s proposal to reduce production capacity by 600,000 barrel per day,” Apichat said.

He expects the SET index to zigzag upwards since MPs will reconsider the draft annual budget for fiscal year 2020 on February 13, before sending it to the Senate for consideration on February 17.

“We expect Thai stocks to benefit, especially contractor and consumer-related stocks,” he said.

“We also expect the coronavirus crisis not to become a more serious matter after the World Health Organisation announced that 80 per cent of patients suspected of contracting coronavirus have a fever, 15 per cent have pneumonia, and only about 3-5 per cent required close monitoring.”

He suggested that investors find an opportunity for trading in the short term since the SET index is recovering.

His “outstanding picks” for February are AP, EASTW, ERW, KKP, RBF and Tasco, while “outstanding stocks” for the year are CPAll, BJC, AEONTS, PlanB, AOT, PTTEP, PTT, TOP, SPRC, SPALI and KKP.