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Falling oil price, tight valuation pressuring SET (nationthailand.com)

Falling oil price, tight valuation pressuring SET

EconDec 08. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index fell by 1.83 points, or 0.13 per cent, to 1,448 in the morning session on Tuesday.

An analyst at Krungsri Securities expected the index during the day to fluctuate between 1,440 and 1,460 points amid foreign funds inflows in response to positive news of a Covid-19 vaccine.

“However, we advise investors to speculate short-term profit, as falling oil price and tight valuation would pressure the index,” he said.

He also expected the Cabinet to approve the second phase of the “Khon La Khrueng” (Let’s Go Halves) scheme and the extension of the MRT Pink Line at a cost of Bt3.4 billion at the meeting today.

He recommended that investors buy:

▪︎ ICHI, TKN, CBG and TNP that benefit from “Khon La Khrueng” (Let’s Go Halves) scheme.

▪︎ MINT, CENTEL and AOT that benefit from positive news of Covid-19 vaccine.

The SET Index closed at 1,449.83 on Friday, up 11.51 points or 0.80 per cent. Total transactions amounted to Bt82.7 billion with an index high of 1,454.94 and a low of 1,439.14.