News of third phase of easing measures buoys SET
The Stock Exchange of Thailand (SET) Index closed 9.02 points or 0.68 higher at 1,345.11 today (May 27). The volume of total transactions was s Bt78.673 billion with an index high of 1,345.53 and a low of 1,328.07.
A stock analyst at Krungsri Securities expects the index to rise to 1,345 points over hope for an economic recovery after several countries have been easing lockdown measures.
The price of crude oil also rose after several countries launched stimulus measures to deal with the Covid-19 impact.
“Investors expect the government to announce a third phase of easing restrictions by the end of this week,” the analyst said.
However, he added, the index will come under pressure from tension between US and China in relation to the mainland enforcing a new national security law in Hong Kong as well as a tight SET valuation.
The top 10 stocks with the highest trade value today were AOT, CPF, STA, MINT, KBANK, CBG, BAM, TRUE, CPALL and SCB.
As of 4.30pm, the price of crude oil dropped by US$0.25 or 0.73 per cent to $34.10 per barrel, while gold dropped by $9.90 or 0.58 per cent, to $1,695.70 per ounce.
The US indices were on the rise, while European and Asian indices had a mixed day:
Japan’s Nikkei Index closed at 21,419.23, up 148.06 points, or 0.70 per cent.
China’s Shanghai SE Composite Index closed at 2,836.80, down 9.74 points, or 0.34 per cent, while Shenzhen SE Component Index closed at 10,682.70, down 132.73 points, or 1.23 per cent.
Hong Kong’s Hang Seng Index closed at 23,301.36, down 83.30 points, or 0.36 per cent.
South Korea’s KOSPI Index closed at 2,031.20, up 1.42 points, or 0.070 per cent.
Taiwan’s TAIEX Index closed at 11,014.66, up 17.45 points, or 0.16 per cent.
