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Focus on stocks not hit by second Covid-19 wave, experts suggest, as global indices plunge

EconOct 30. 2020

By The Nation

Experts are suggesting picking up stocks of companies that will not be affected by the second Covid-19 outbreak on Friday.

The Stock Exchange of Thailand (SET) Index on Thursday hit its lowest point at 1,195.99 before closing at 1,201.64, down 6.30 points or 0.52 per cent, with total transactions at Bt50.83 billion due to uncertainty over escalation in Covid-19 cases, especially in the US and Europe. The number of patients has increased to 500,000 people on average daily.

Margin account sales were Bt27.05 million, institutional investors made net sales of Bt189.71 million, foreign investor sales accounted for Bt1.17 billion and domestic investors Bt1.38 billion.

Therdsak Thaveeteeratham, executive vice president of research at Asia Plus Securities, said uncertainty over an economic slowdown after many countries imposed lockdown measures to contain the spread of Covid-19 had caused global stock indices, including the SET, to fall.

“Therefore, we advise investors to buy food and agriculture shares such as STA, TU and DCC, as well as stocks that generated returns over 5 per cent in the beginning of the Covid-19 outbreak, such as HMPRO, TISCO, MTC and AP,” he said.

Sorrabhol Virameteekul, senior vice-president at Kasikorn Securities, expected the day’s index to fluctuate between 1,190 and 1,210 as the number of Covid-19 cases is increasing. He advised investors to follow the Covid-19 situation in the Asian region and the US presidential election.

He recommended investors to buy STA, as the Covid-19 outbreak had helped boost the demand for rubber gloves, and TISCO, as it has strong fundamentals.

Nuttachart Mekmasin, research analyst at Trinity Securities, said uncertainty over the Covid-19 outbreak had caused the SET to fall only 0.5 per cent compared to other indices, adding that this is the best time for investment.

He recommended buying canned seafood and pet food stocks such as ASIAN, seasonings stocks such as XO, polyethylene terephthalate film stocks such as PTL, and rubber gloves stocks such as STGT.