News of businesses reopening props up SET, Asian markets
The Stock Exchange of Thailand (SET) Index closed at 1,282.68 today (April 29), marking a rise of 7.69 points or 0.6 percent.
Transactions totalled at Bt49.140 billion with an index high of 1,286.45 and a low of 1,275.68.
A stock analyst at Krungsri Securities said he expects the index to fluctuate between 1,265 and 1,290, adding that the market was buoyed by news that many countries, including Thailand, were thinking of allowing some businesses to reopen now that the number of Covid-19 cases have started dropping.
“There were only nine new confirmed cases in Thailand today, plus investors also expect the US Federal Open Market Committee to maintain the interest rate at 0 to 0.25 percent,” the analyst said.
“However, investors were still selling stocks due to uncertainty following a decline in listed companies’ first quarter performance and the high price-to-earnings ratio at 15 times, which may result in stock market volatility.”
The top 10 stocks with the highest trade today were BAM, PTT, CPALL, KBANK, GULF, RATCH, EGCO, CPF, GPSC and PTTEP.
As of 5pm, crude oil price rose by US$1.74 or 14.10 percent to $14.08 per barrel, while gold price dropped by $3.20 or 0.19 percent to $1,719 per ounce.
Meanwhile, Asian indices were on the rise:
China’s Shanghai SE Composite Index closed at 2,822.44, up 12.42 points, or 0.44 percent, while Shenzhen SE Component Index closed at 10,514.17, up 13.03 points, or 0.12 percent.
Hong Kong’s Hang Seng Index closed at 24,643.59, up 67.63 points, or 0.28 percent.
South Korea’s KOSPI Index closed at 1,947.56, up 13.47 points, or 0.70 percent.
Taiwan’s TAIEX Index closed at 10,772.22, up 156.16 points, or 1.47 percent.
Japan’s Nikkei Index was closed for the Golden Week.
