Monday, August 10, 2020

SET rises slightly over hopes of a V-shaped recovery

Jul 09. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index rose 3.35 points or 0.25 per cent to close at 1,365.81 today (July 9), with total transactions hitting Bt72.680 billion with an index high of 1,370.80 and a low of 1,358.03.

During the morning session, a stock analyst at Krungsri Securities said he expected the index to fluctuate between 1,355 and 1,370 due to a lack of new factors to stimulate the economy.

“The market gained positive sentiment over hopes of a V-shaped recovery as US, European and Chinese economic data showed a significant rise last month and there was speculation in stocks whose second-quarter performance was expected to show a big improvement,” the analyst said.

“However, the market was under pressure from uncertainty following the Covid-19 outbreak, as the number of new cases in the US continues to increase by approximately 61,000 patients per day.”

The top 10 stocks with the highest trade value today were STGT, AOT, PTT, STA, PTL, MINT, EA, ADVANC, TOP and BAM.

As of 4.30pm, the price of crude oil dropped by US$0.18 or 0.44 per cent to $40.72 per barrel, while gold rose by $2.80 or 0.15 per cent to $1,823.40 per ounce.

Asian indices were on the rise:

Japan’s Nikkei Index closed at 22,529.29, up 90.64 points, or 0.40 per cent.

China’s Shanghai SE Composite Index closed at 3,450.59, up 47.15 points, or 1.39 per cent, while Shenzhen SE Component Index closed at 13,754.74, up 348.37 points, or 2.60 per cent.

Hong Kong’s Hang Seng Index closed at 26,210.16, up 80.98 points, or 0.31 per cent.

South Korea’s KOSPI Index closed at 2,167.90, up 9.02 points, or 0.42 per cent.

Taiwan’s TAIEX Index closed at 12,192.69, up 22.50 points, or 0.18 per cent.

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