SET joins Asian slide as oil rides roller-coaster

Total transactions amounted to Bt58.676 billion with an index high of 1,260.96 and a low of 1,243.58.
A stock analyst at Krungsri Securities expected the index to fluctuate between 1,250 and 1,280 points.
“The market continues to gain from hopes that the lockdown will ease, with the Covid-19 situation in Thailand improving,” the stock analyst said.
“Meanwhile, the US and European countries are preparing to reopen some states, resulting in positive sentiment for economic activities and investment.”
The analyst said oil firms would be under pressure after the crude price dropped sharply given low demand and high stocks of oil in the US, which would lead to oversupply.
“In addition, investors should beware of a mass sell-off amid concern that listed companies’ finances in the first quarter of this year will drop sharply, putting the market under pressure.”
The 10 stocks with the highest trade values today were PTT, GULF, AOT, CPALL, PTTEP, KBANK, JAS, ADVANC, SCB, and GPSC.
As of 5pm, the crude oil price was up US$30.2300 or 80.33 per cent to $0.0100 per barrel, while gold had dropped by $22.90 or 1.34 per cent to $1,688.30 per ounce.
Meanwhile, regional stocks were on the slide.
Japan’s Nikkei Index closed at 19,280.78, down 388.34 points, or 1.97 per cent.
China’s Shanghai SE Composite Index closed at 2,827.01, down 25.54 points, or 0.9 per cent, while Shenzhen SE Component Index closed at 10,506.86, down 114.64 points, or 1.08 per cent.
Hong Kong’s Hang Seng Index closed at 23,793.55, down 536.47 points, or 2.2 per cent.
South Korea’s KOSPI Index closed at 1,879.38, down 18.98 points, or 1 per cent.
Taiwan’s TAIEX Index closed at 10,288.42, down 298.29 points, or 2.82 per cent.