Fed’s focus on targeting inflation could cloud SET

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The Stock Exchange of Thailand (SET) Index rose by 6.96 points, or 0.52 per cent, to 1,333.77 in morning session on Friday (August 28).

A stock analyst at Krungsri Securities expected the index to rise to 1,335 before falling from the US Federal Reserve’s move to change its approach to inflation to support the US labour market and economic crisis, while still maintaining the interest rate at low level.

“Also, the index gained positive sentiment from the positive news of a Covid-19 test kit,” he said.

He recommended that investors buy stocks whose third-quarter performance will improve, such as CPF, GFPT, TU, ASIAN, KCE, HANA, DELTA, HMPRO, GLOBAL, DOHOME, COM7, JMT, CHG, BCH, PTG, PLANB, CBG and TASCO.

The SET Index on Thursday rose by 4.26 points, or 0.32 per cent, closing at 1,327 with total transactions of Bt52 billion from speculation in shares which gained positive sentiment.

https://www.nationthailand.com/business/30393652

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