Monday, August 10, 2020

SET boosted by vaccine progress

Jul 15. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,354.31 today (July 15), up 13.24 points or 0.99 per cent. The volume of total transactions was Bt59.689 billion with an index high of 1,356.93 and a low of 1,344.76.

In the morning session, a stock analyst at Krungsri Securities expected the index to rebound to between 1,350 and 1,355 before falling, in response to positive news about a Covid-19 vaccine and the rising crude oil price.

“[US biotech company] Moderna has just revealed that its mRNA-1273 vaccine helped strengthen Covid-19 patients' immunity," the analyst said.

"Meanwhile, the price of crude oil rose to over US$40 per barrel again."

However, the analyst advised investors to beware of mass sell-offs due to uncertainty over a possible second wave of Covid-19 in Thailand after a rise in the number of new cases.

"Also, we advise investors to follow developments of the Opec+ meeting considering an agreement on reducing oil production," the analyst added.

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

As of 4.30pm, the price of crude oil rose by US$0.55 or 1.37 per cent to $40.84 per barrel, while gold rose by $1.70 or 0.09 per cent, to $1,815.10 per ounce.

Changes in Asian indices were mixed:

Japan’s Nikkei Index closed at 22,945.50, up 358.49 points, or 1.59 per cent.

China’s Shang Hai SE Composite Index closed at 3,361.30, down 53.31 points, or 1.56 per cent, while the Shenzhen SE Component Index closed at 13,734.13, down 262.33 points, or 1.87 per cent.

Hong Kong’s Hang Seng Index closed at 25,481.58, up 3.69 points, or 0.014 per cent.

South Korea’s KOSPI Index closed at 2,201.88, up 18.27 points, or 0.84 per cent.

Taiwan’s TAIEX Index closed at 12,202.85, down 6.16 points, or 0.050 per cent.

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