We expect the SET Index to consolidate in the near term, which is justified after the curtain on earnings reporting comes down and numerous stocks are trading ex-dividend.
An interest rate increase by the Federal Reserve at its March 15-16 meeting, rising Omicron infections and the global economic impact of the crisis in Ukraine will likely put downward pressure on the market.
Positive factors include dividend plays, as stocks of companies with attractive dividends and/or strong growth stories will take centre stage. As well, the SET’s aggregate fourth-quarter net profit came in at 270 billion baht, driving 2021 full-year profit to exceed market expectations. We thus believe the index may have priced in the post-outbreak economic recovery.
Among the negative factors, high coronavirus case numbers — over 40,000 a day when rapid…
