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Right time about now to snap up more shares: big investors
EconOct 28. 2020
By The Nation
Large investors say this is the best time to purchase more shares after the Stock Exchange of Thailand (SET) Index temporarily fell below 1,200 points.
The index on Tuesday hit a low of 1,197.74 points before closing at 1,208.95, up 0.98 points, or 0.08 per cent, with total transactions of Bt45.73 billion.
Margin accounts and institutional, foreign and domestic investors made net sales of Bt139.41 million, Bt969.88 million, Bt139.41 million and Bt1.84 billion, respectively.
Anurak Boonsawaeng, a large investor who specialises in value investing, said this is an opportunity for investors holding cash to buy shares with good fundamentals and cheap prices, adding that investors who did not hold cash should not sell their stocks because it is too late to cut losses.
“Currently, stock prices are very cheap compared to prices when the index hit a high of 1,800 points; investors can get high returns because the prices of some shares are cheaper than their fair value,” he pointed out.
“Therefore, I advised investors to make selective buys because it may be too late if they wait until negative sentiments pressuring the index subside.”
Anurak said he bought stocks until they reached the maximum of his investment portfolio.
However, Dr Niwet Hemwachirawarakorn, another large investor who specialises in value investing, advised investors to wait until all listed companies announced their third-quarter performance.
“There are both cheap and expensive stocks, while most investors decided to speculate on profit from expensive stocks without knowing that prices may fall sharply,” he said.
He believed that the index would fall further, adding that he is holding 10 per cent of cash.
“Our stock market fell more than other markets due to bad fundamentals and domestic political unrest, causing foreign investors to sell stocks, especially large-cap ones,” he added.
Another big investor, Watchara Kaewsawang, said the index was currently under pressure from domestic political unrest and Covid-19.
Watchara said he has 70 per cent of cash and is waiting to buy more shares, adding that his investment in stocks currently accounts for 30 per cent of his investment portfolio.
He advised investors to make selective buys in stocks with good fundamentals and those able to escape the impact of the domestic political unrest when the index plunges to 1,150 points.
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