SET, Asian markets stay on upward trend

Transactions amounted to a total of Bt74.952 billion with an index high of 1,099.94 and a low of 1,050.72.
A stock analyst at Krungsri Securities expected the index would move upside between 1,055 and 1,065 before weakening as regional stocks sharply rebounded after the US Federal Reserve launched an unlimited quantitative easing bond purchase programme and increased the credit line by $300 billion, allowing businesses to borrow at lower interest cost.
“Recently, the US Congress reached an agreement to relieve the burden of the American people and businesses affected by the Covid-19 impact worth US$2 trillion, which will be a positive sentiment for risk asset investment,” the stock analyst said.
“However, uncertainty inside the country following Prime Minister Prayut Chan-o-cha declaring a state of emergency to contain the Covid-19 pandemic, starting from March 26 to the end of April, will pressure the economy. Besides, foreign investors have made net sales continuously. This month alone, they have made net sales of Bt73 billion, which would pull the index down”,
As of 4.54pm, global stocks were rising . Crude price rose by US$0.53 or2.21 per cent to $24.54 per barrel, while gold price fell by $5.20 or 0.31 per cent to $1,655.60 per ounce.
The top ten stocks with the highest trade values today were BAM, PTT, ADVANC, PTTEP, CPALL, GULF, AOT, SCC, GPSC, and CPF.
Elsewhere in Asia, Japan’s Nikkei Index closed at 19,546.63, up 1,454.28 points, or 8.04 per cent.
China’s Shanghai SE Composite Index closed at 2,781.59, up 59.15 points, or 2.17 per cent, while Shenzhen SE Component Index closed at 10,241.08, up 319.39 points, or 3.22 per cent.
Hong Kong’s Hang Seng Index closed at 23,527.19, up 863.70 points, or 3.81 per cent.
South Korea’s KOSPI Index closed at 1,704.76, up 94.79 points, or 5.89 per cent.
Taiwan’s TAIEX Index closed at 9,644.75, up 359.13 points, or 3.87 per cent.