SET Index boosted by hopes of lockdown easing
The Stock Exchange of Thailand (SET) Index closed at 1,266.40 today (April 20), up 27.16 points or 2.19 per cent.
Total transactions amounted to Bt67.298 billion with an index high of 1,273.25 and a low of 1,237.22.
A stock analyst at Krungsri Securities expects the index to rise to the resistance zone between 1,250 and 1,260 points as the Covid-19 situation in the country continues to improve.
“We expect that governments worldwide will ease lockdowns to allow some businesses to resume operations, resulting in positive economic sentiment and investment,” the analyst said.
He warned investors to beware of mass sell-offs after China’s gross domestic product (GDP) in the first quarter of this year contracted 6.8 per cent, while Japan’s exports in March dropped 11.7 per cent due to the Covid-19 impact.
“In addition, investors are selling stocks due to concern that profits of listed companies will drop sharply, causing pressure on the market.”
The 10 stocks with the highest trade values today were AOT, PTT, BAM, GULF, JAS, ADVANC, CPALL, KBANK, SCB, and PTTEP.
As of 5pm, the crude oil price had dropped by US$4.17 or 22.82 per cent to $14.10 per barrel, while gold had fallen by $2.30 or 0.14 per cent to $1,696.50 per ounce.
Meanwhile, regional stocks had a mixed day.
Japans Nikkei Index closed at 19,669.12, down 228.14 points, or 1.15 per cent.
China’s Shanghai SE Composite Index closed at 2,852.55, up 14.06 points, or 0.5 per cent, while Shenzhen SE Component Index closed at 10,621.50, up 93.51 points, or 0.89 per cent.
Hong Kong’s Hang Seng Index closed at 24,330.02, down 49.98 points, or 0.21 per cent.
South Korea’s KOSPI Index closed at 1,898.36, down 16.17 points, or 0.84 per cent.
Taiwan’s TAIEX Index closed at 10,586.71, down 10.33 points, or 0.097 per cent.
