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SET rises, but worries over political unrest, overbought stocks cast shadow (nationthailand.com)

SET rises, but worries over political unrest, overbought stocks cast shadow

EconNov 26. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 8.82 points, or 0.62 per cent, to 1,424.54 in the morning session on Thursday.

An analyst at Krungsri Securities expected the day’s index to fluctuate between 1,405 and 1,425 points amid forecasts of a smooth US presidential transition, progress on Covid-19 vaccines and the rising oil price.

“However, investors should beware of mass selloffs in shares due to uncertainty over Thailand’s political unrest and signs of overbought stocks,” he said.

He recommended investors buy:

> PTTEP, PTTGC, Top, IVL and SPRC, which benefit from the rising oil price.

> Mint, Centel and AOT, which benefit from the development of a Covid-19 vaccine.

> Amata, WHA, SAT and AH, which will benefit from the Asia-Pacific Regional Comprehensive Economic Partnership pact.

The SET Index closed at 1,415.72 on Wednesday, up 14.09 points, or 1.01 per cent. Total transactions amounted to Bt117 billion, with an index high of 1,428.36 points and a low of 1,392.42.