Tuesday, July 14, 2020

SET rallies over news of Covid-19 vaccine tests

May 26. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index rose by 15.11 points or 1.14 per cent, closing at 1,336.09 today (May 26).

Total transactions amounted to Bt73.954 billion with an index high of 1,345.31 and a low of 1,332.30.

An analyst at Krungsri Securities expects the index to rise to between 1,330 and 1,335 points thanks to progress in the development of a Covid-19 vaccine as well as hopes for a third round of measures being eased.

“Novavax, a clinical-stage biotechnology company, has launched the first phase of vaccine trials and expects to have results by July,” the analyst said.

He added that economic activities and investment will also gain positive sentiment from the Centre for Covid-19 Situation Administration’s third phase of easing lockdown measures by the end of this week.

“However, the index will be under pressure from uncertainty related to the US-China trade war, especially after Washington said it may impose sanctions on Beijing if it enforces a national security law in Hong Kong,” the analyst said.

The top 10 stocks with the highest trade values today were MINT, CPALL, STA, BAM, KCE, PTT, AOT, CPN, BBL and SUPER.

As of 4.30pm, crude oil price rose by US$0.83 or 2.50 per cent to $34.08 per barrel, while gold dropped by $10.80 or 0.62 per cent to $1,724.70 per ounce.

The global indices were on the rise:

Japan’s Nikkei Index closed at 21,271.17, up 529.52 points, or 2.55 per cent.

China’s Shanghai SE Composite Index closed at 2,846.55, up 28.58 points, or 1.01 per cent, while Shenzhen SE Component Index closed at 10,815.43, up 222.59 points, or 2.10 per cent.

Hong Kong’s Hang Seng Index closed at 23,384.66, up 432.42 points, or 1.88 per cent.

South Korea’s KOSPI Index closed at 2,029.78, up 35.18 points, or 1.76 per cent.

Taiwan’s TAIEX Index closed at 10,997.21, up 126.03 points, or 1.16 per cent.

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