Friday, July 10, 2020

SET lifted by signs of recovery in China, US

Jun 30. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,339.03 today (June 30), up 9.27 points or 0.70 per cent.

Total transactions amounted to Bt58.589 billion with an index high of 1,351.59 and a low of 1,339.03.

In the morning session, a stock analyst at Krungsri Securities expected the index to rebound to between 1,340 and 1,345 points in response to strong economic data emanating from the US and China, before falling back.

“The US Pending Home Sales Index in May rose by 44.3 per cent compared to the previous month, while China’s industrial profits in May rose 6 per cent year on year,” the analyst said.

“Resulting positive sentiment boosted the price of crude oil, with demand for fuel expected to increase.”

However, the analyst said the index was still pressured by uncertainty following a second wave of Covid-19 infections in the United States.

The 10 stocks with the highest trade values today were ADVANC, PTT, KBANK, CBG, KCE, AOT, CPF, CPALL, SCC, and PTTEP.

As of 4.30pm, the crude oil price had dropped by US$0.53 or 1.34 per cent to $39.17 per barrel, while gold rose by $1.40 or 0.08 per cent to $1,782.60 per ounce.

Other Asian indices were on the rise:

Japan’s Nikkei Index closed at 22,288.14, up 293.10 points, or 1.33 per cent.

China’s Shang Hai SE Composite Index closed at 2,984.67, up 23.16 points, or 0.78 per cent, while the Shenzhen SE Component Index closed at 11,992.35, up 239.99 points, or 2.04 per cent.

Hong Kong’s Hang Seng Index closed at 24,427.19, up 125.91 points, or 0.52 per cent.

South Korea’s KOSPI Index closed at 2,108.33, up 14.85 points, or 0.71 per cent.

Taiwan’s TAIEX Index closed at 11,621.24, up 78.62 points, or 0.68 per cent.

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