Friday, July 03, 2020

SET pushed up by rising oil, Bt1.9tn virus relief fund

Jun 01. 2020
Facebook Twitter

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,352.37 today (June 1), up 9.52 points or 0.71 per cent. Total transaction volume was Bt65.154 billion with an index high of 1,362.46 and a low of 1,348.99.

In the morning session, a Krungsri Securities stock analyst expected the index to fluctuate between 1,330 and 1,350 points due to uncertainty after curfews were imposed in several US states amid protests against police brutality.

“Meanwhile, investments will come under pressure due to tensions between the United States and China after the US terminated its trade relationship with Hong Kong in response to Beijing’s new national security law,” the analyst said.

However, the index will rebound after Thailand’s House of Representatives approved three loan decrees worth Bt1.9 trillion, and the price of crude oil began rising, he said.

“Energy and petrochemical stocks will gain positive sentiment as the price of crude oil rose more than US$35 [Bt1,111] per barrel after the number of oil and gas rigs in the US fell to its lowest in history,” he added.

The 10 stocks with the highest trade value today were CPALL, SUPER, PTTGC, PTT, KBANK, BBL, TASCO, AOT, STA and SCB.

As of 4.30pm, the price of crude oil dropped by US$0.27 or 0.76 per cent to $35.22 per barrel, while the gold price dropped by $3.90 or 0.22 per cent, to $1,747.80 per ounce.

The US and European indices had a mixed day, while Asian indices were on the rise.

Japan’s Nikkei Index closed at 22,062.39, up 184.50 points, or 0.84 per cent.

China’s Shang Hai SE Composite Index closed at 2,915.43, up 63.08 points, or 2.21 per cent, while the Shenzhen SE Component Index closed at 11,102.15, up 356.07 points, or 3.31 per cent.

Hong Kong’s Hang Seng Index closed at 23,732.52, up 771.05 points or 3.36 per cent.

South Korea’s KOSPI Index closed at 2,065.08, up 35.48 points or 1.75 per cent.

Taiwan’s TAIEX Index closed at 11,079.02, up 136.86 points or 1.25 per cent.

Tags:
Facebook Twitter
More in Business
Editor’s Picks
wmg-logo
Top News
wmg-logo