SET rises, but worries of second Covid-19 wave remain #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET rises, but worries of second Covid-19 wave remain

Econ

Jun 24. 2020

By The Nation

The Stock Exchange of Thailand Index opened at 1,364.62, up 8.19 points, or 0.60 per cent, on Wednesday morning (June 23).

A stock analyst at Krungsri Securities expected the index to fluctuate between 1,350 and 1,365 due to uncertainty following the second Covid-19 wave.

“The market gained positive sentiment from hopes of an economic recovery after the US and Europe manufacturing and service Purchasing Managers’ Index in June rose to the highest in four months at 46.8 and 4.75, respectively in response to the lockdown easing,” he said.

“However uncertainty over a second wave of Covid-19 after the number of new cases in the US continues to rise would plunge the index.”

The analyst advised investors to follow the Thai Monetary Policy Committee (MPC) meeting, adding that investors expected the MPC to maintain interest rate at 0.50 per cent.

He recommended the following stocks to investors:

▪ Energy stocks that benefit from the rising crude oil price, such as PTT, PTTEP, Top, PTTGC, IRPC, SPRC and IVL.

▪ Food stocks that benefit from rising pork and chicken prices, such as CPF, GFPT and TFG.

▪ Stocks whose second-quarter performance will improve, such as CKP, Tasco, STA and RS.

The SET Index rebounded by 4.25 points on Tuesday (June 23), or 0.31 per cent, closing at 1,356 as fears of a US-China trade war among investors has eased.

Total transactions amounted to Bt49 billion. Foreign investors made net sales of Bt773 million in stocks, while net bond purchases amounted to Bt20 million. There were 6,848 net long TFEX SET50 contracts.

Leave a comment