SCB optimistic Thai stocks will see positive change

0
678
SCB Securities’ Managing Director and Head of Research Sukit Udomsirikul.

SCB Securities (SCBS) is now seeing the low-performing Thai stock market, due to COVID-19, as an investment opportunity, with food, retailing and power plant businesses expected to see the best recovery.


Please Support Pattaya Mail

SCB Securities’ Managing Director and Head of Research Sukit Udomsirikul revealed that Thailand’s stock indices have continued to decline in September, in line with earlier projections by analysts. However, the stocks now have growth opportunities, due to the government’s several economic stimuli and resolutions of some issues.





Mr. Sukit said the pressing issue is the level of non-performing loans (NPLs) in the financial sector. Meanwhile, the United States presidential election in November may result in more investment in Thailand, should Joe Biden win the election, due to the diversification of investors’ portfolios, from U.S. stocks into emerging markets. This scenario may help the Stock Exchange of Thailand (SET) index rebound to 1,300 points.

Loading…

SCBS Research Managing Director said business categories that are safe for long-term investments are now food, retailing and power plant businesses, followed by hospitals. These businesses are expected to perform well, once COVID-19 crisis resolves.

He has pointed out that the SET index, now between 1,200 and 1,250, indicates it is a good time to invest. (NNT)