Thai market is expected to stay volatile for another week as tensions between Russia and Ukraine remain tight and COVID-19 cases in Thailand continue to rise. The SET Index is likely to trade between 1,630 and 1,670 points this week. Globlex Securities (GBS) recommends Value Plays, including KBANK, BBL, SCB, EA, GULF, ADVANC, TRUE, and DTAC.
The International Monetary Fund (IMF) said on Tuesday that Russia’s invasion of Ukraine will have a domino effect throughout the global economy, reducing growth and increasing inflation, and potentially radically reshaping the global economic order in the long run. Following this statement, the IMF indicated that its global economic growth forecasts would also likely be revised downward. The Thai economy was undoubtedly affected as a result of this.
Furthermore, there are negative consequences along with the upsurge of COVID-19 cases. Recently, the Chinese government ordered a one-week lockdown on Shenzhen to contain the spread of virus, spurring analysts to anticipate that it could further aggravate the global economy.
For investment strategy, GBS recommends Value Plays, including KBANK, BBL, SCB, EA, GULF, ADVANC, TRUE and DTAC, as they showed strong growth despite the market’s volatility.
