SET up over planned new economic stimulus measures

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The Stock Exchange of Thailand (SET) Index rose by 2.18 points, or 0.17 per cent, to 1,318.06 in the morning session today (September 3).

An analyst at Krungsri Securities expected the index to rise between 1,323 and 1,330 points before falling in response to the Thailand Centre for Economic Situation Administration’s (Cesa) new economic stimulus measures and hopes of new US Covid-19 relief measures.

Under the Cesa scheme, the government will provide a 50 per cent subsidy for products purchased from participating retailers and street vendors, at no more than Bt3,000 per person.

The scheme aims to provide subsidies to 15 million people and expects 80,000 retailers and street vendors to participate.

However, the analyst said the decline in the oil price and mass stock sell-offs to reduce risks before the upcoming four-day holiday will pressure the index.

He recommended that investors buy stocks whose third-quarter performance would 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 closed at 1,315.88 points yesterday (September 2), up 10.31 points, or 0.79 per cent. The volume of total transactions stood at Bt43.68 billion, with an index high of 1,316.08 points and a low of 1,301.78.