Wednesday, September 30, 2020

Covid-19, oil stock sell-off take over 10 per cent off SET 

Mar 12. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index plunged to 1,114.91 today (March 12) to its lowest level in eight years and one month, down 134.98 points (10.80 per cent) from Wednesday’s close with a total transactions of Bt101.652 billion. 

The index moved between a high of 1,187.39 and a low of 1,095.37.

An analyst at Krungsri Securities said he expected the SET to fall 1,220-1,235 points today due to uncertainty of the Covid-19 outbreak and heavy pressure to sell off oil stocks.

“Oil prices fell sharply last night because of the Covid-19 outbreak,” he said, referring to Wednesday’s downturn.

“Meanwhile, the World Health Organisation has declared Covid-19 a global pandemic and the number of confirmed infections in Thailand has risen again, putting more pressure on the market.

“Large-cap stocks are also under pressure due to foreign investors continuously selling their holding.”

The top ten stocks with the highest trade values today were AOT, PTT, CPALL, BAM, GULF, PTTEP, ADVANC, SCB, KBANK, and SCC.

Elsewhere in Asia, Japan’s Nikkei Index closed at 18,559.63, down 856.43 points, or 4.41 per cent.

China’s Shanghai SE Composite Index closed at 2,923.49, down 45.03 points, or 1.52 per cent, while Shenzhen SE Component Index closed at 10,941.01, down 259.04 points, or 2.31 per cent.

Hong Kong’s Hang Seng Index closed at 24,309.07, down 922.54 points, or 3.66 per cent.

South Korea’s KOSPI Index closed at 1,834.33, down 73.94 points, or 3.87 per cent.

Taiwan’s TAIEX Index closed at 10,422.32, down 471.43 points, or 4.33 per cent.

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