FSS Expects SET to Move in Sideways-Down, Recomm. Defensive Stocks amid Uncertainties

FSS Expects SET to Move in Sideways-Down Trends, Recommending Defensive Stocks amid Uncertainties.

Finansia Syrus Securities (FSS) warned that SET Index could move in sideways-down trends, pressured by the energy sector after the oil prices dropped to a 5-month low as well as the resurgence of the coronavirus that forced countries to reimpose lockdowns.

 

However, the Asia stock markets are quite positive due to better-than-expected PMI data from China and South Korea. Still, FSS forecasted a limited upside to SET Index and advised investors to monitor the U.S. election and the FOMC’s minutes this week, as well as the development of political issues in Thailand.

Thus, FSS recommended defensive plays, picking stocks that provide essential goods and services such as F&B, Telecommunications, hospitals, schools and potentially good-earnings stocks.

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