Fear of second wave of infections pulls down SET

The total transactions came in at Bt62.241 billion with an index high of 1,303.28 and a low of 1,290.47.
The index is expected to fall to between 1,285 and 1,290 points owing to negative sentiments related to worries of a second wave of Covid-19 infections, weak financial reports from many corporations and the SET valuation in relation to investment, a Krungrsi Securities forecast showed.
Energy stocks, however, will help stabilise the stock market now that the price of crude oil has rebounded with Saudi Arabia’s decision to reduce its oil production by 1 million barrels per day, Krungsri said.
The top 10 stocks with the highest trade value today were BAM, CPALL, KCE, GULF, PTT, BANPU, BBL, ADVANC, INTUCH and GPSC.
As of 4.30pm, the price of crude oil had dropped by $0.31 or 1.20 per cent to $25.47 per barrel, while gold dropped by $0.90 or 0.05 per cent, to $1,705.90 per ounce.
Meanwhile, European indices were on the slide, while Asian indices had a mixed day:
Japan’s Nikkei Index closed at 20,267.05, down 99.43 points, or 0.49 per cent.
China’s Shang Hai SE Composite Index closed at 2,898.05, up 6.49 points, or 0.22 per cent, while Shenzhen SE Component Index closed at 11,074.59, up 59.03 points, or 0.54 per cent.
Hong Kong’s Hang Seng Index closed at 24,180.30, down 65.38 points, or 0.27 per cent.
South Korea’s KOSPI Index closed at 1,940.42, up 18.25 points, or 0.95 per cent.
Taiwan’s TAIEX Index closed at 10,938.27, up 58.80 points, or 0.54 per cent.