Decline in year-end funds flow could check SET surge after Brexit deal #SootinClaimon.Com

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Decline in year-end funds flow could check SET surge after Brexit deal

EconDec 25. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index surged by 30.20 points, or 2.08 per cent, to 1,481.72 in the morning session on Friday.

However, an analyst at Krungsri Securities expected the day’s index to fluctuate between 1,440 and 1,465 points amid positive news that the European Union and Britain had reached an agreement on Brexit, while the Thai government had not imposed a nationwide lockdown in response to the latest virus outbreak.

“The index would be under pressure due to the decline in funds flow during the Christmas and New Year festivals,” he said.

He recommended that investors buy:

▪︎ TQM, BLA, STGT, AJ, PTL, SYNEX and COM7, which benefit from the Covid-19 outbreak.

▪︎ PTTEP, PTTGC, TOP and IVL which benefit from rising oil price, while their fourth-quarter performance is expected to improve.

The SET Index closed at 1,451.52 on Thursday, up 35.50 points or 2.51 per cent. Total transactions amounted to Bt103.03 billion with an index high of 1,453.87 and a low of 1,409.75, boosted by mass buy-ups of energy, bank, financial and electronic shares in response to the Brexit and lockdown news.

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