SET slides slightly, though investors slowly waking up

The total transaction volume was Bt59.613 billion with an index high of 1,231.05 and a low of 1,200.14.
A stock analyst at Krungsri Securities expects the index to stabilise at 1,220 as investors have started showing attention to the economy, especially since the financial statements for the first quarter are set to be announced soon.
“The US economy dropped sharply in March as retail sales contracted 8.7 per cent and the industrial production index contracted 5.4 per cent,” the analyst said.
“Also, there is uncertainty about banks’ financial statements. Investors expect profits to decrease due to a slowdown in bank loans, while non-performing loans [NPL] will tend to increase.”
The analyst said energy stocks will be under pressure after crude oil price dropped below US$20 per barrel, the lowest in more than 18 years due to the decline in demand and US crude oil stocks rose by 19.2 million barrels, rising for 12 consecutive weeks.
“However, the index will rebound as investors expect the government to ease lockdown measures because the Covid-19 situation in Thailand is becoming stable,” the analyst said.
The top 10 stocks with the highest trade value today were PTT, BAM, GULF, PTTEP, CPALL, SCC, MINT, GPSC, AOT, and PTTGC.
As of 5pm, the price of crude oil rose by $0.27 or 1.36 per cent to $20.14 per barrel, while gold price rose by $12.30 or 0.71 per cent, to $1,752.50 per ounce.
Meanwhile, regional stock markets had a mixed day:
Japan’s Nikkei Index closed at 19,290.20, down 259.89 points, or 1.33 per cent.
China’s Shanghai SE Composite Index closed at 2,819.94, up 8.76 points, or 0.31 per cent, while Shenzhen SE Component Index closed at 10,470.79, up 53.42 points, or 0.51 per cent.
Hong Kong’s Hang Seng Index closed at 24,006.45, down 138.89 points, or 0.58 per cent.
South Korea’s KOSPI Index closed at 1,857.07, down 0.010 points, or 0.00054 per cent.
Taiwan’s TAIEX Index closed at 10.375.48, down 71.73 points, or 0.69 per cent.