Monday, August 10, 2020

Uncertainty over Covid-19 pulls down SET

Jul 08. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index fell 10.76 points or 0.78 per cent, closing at 1,362.46 today (July 8). Total transactions stood at Bt66.274 billion with an index high of 1,379.71 and a low of 1,361.24.

During the morning session, a stock analyst at Krungsri Securities said he expected the index to fall between 1,360 and 1,365 before rebounding owing to uncertainty about the Covid-19 pandemic as the US is getting approximately 50,000 new cases daily. This negative sentiment has also brought down the price of crude oil.

However, he said, the index will rebound from speculation in stocks whose second-quarter performance is expected to improve, while export stocks should benefit from a weakening baht.

The top 10 stocks with the highest trade value today were STGT, AOT, PTT, STA, EA, ADVANC, PTTEP, KBANK, CPALL and TOP.

As of 4.30pm, the price of crude oil dropped by US$0.10 or 0.25 per cent to $40.52 per barrel, while gold rose by $1 or 0.06 per cent, to $1,810.90 per ounce.

Asian indices were mixed:

Japan’s Nikkei Index closed at 22,438.65, down 176.64 points, or 0.78 per cent.

China’s Shanghai SE Composite Index closed at 3,403.44, up 58.10 points, or 1.74 per cent, while Shenzhen SE Component Index closed at 13,406.37, up 242.39 points, or 1.84 per cent.

Hong Kong’s Hang Seng Index closed at 26,129.18, up 153.52 points, or 0.59 per cent.

South Korea’s KOSPI Index closed at 2,158.88, down 5.29 points, or 0.24 per cent.

Taiwan’s TAIEX Index closed at 12,170.19, up 77.22 points, or 0.64 per cent.

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