Stock market gets a boost from tweak in Fed policies

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The Stock Exchange of Thailand (SET) Index rose by 7.31 points, or 0.55 per cent, to 1,330.62 on Monday morning.

An analyst at Krungsri Securities expected the index to rise between 1,330 and 1,335 before falling in response to positive news that US President Donald Trump will sign the US$1.3-trillion Covid-19 relief bill.

“Meanwhile, the market gained positive sentiment from the Federal Reserve’s move to change its approach to inflation to support the US economy,” the analyst 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 had closed at 1,323.31 on Friday (August 28), down 3.50 points or 0.26 per cent. Total transactions amounted to Bt54.673 billion with an index high of 1,337.61 and a low of 1,319.45.