The SET Index rebounded more than 20 points on Wednesday, in keeping with the direction of the foreign market, as the US Federal Reserve (Fed) is expected to hike interest rates by 0.25 percent, boosting Thai equities’ sentiments, particularly in the banking, retail, and electronics sectors, which are driving the market.
At 15.10 hrs. local time in Thailand, the SET Index rose 21.67 points or 1.32 percent to 1,666.03 points, with a trading value of THB53,193 million.
According to Asia Plus Securities, the US stock markets have recovered as a result of the possibility of a Russian-Ukrainian agreement, and prices of financial commodities are expected to return to normal. Fund flow switches to risky assets, while commodity prices drop. This situation has positive sentiment on the SET Index from now on. Also, the Federal Reserve is projected to raise the US interest rate by 0.25 percent, in line with market expectations.
ASPS recommends stocks that have unique positive factors and probably rebound rapidly. Top picks are KCE (lower inflation, weaker THB), KBANK (interest rate uptrend), and MINT (Russia-Ukraine conflict softening).
