Tuesday, September 22, 2020

SET down over 1.5% despite positive Fed news

Jul 30. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,315.74 today (July 30), down 22.61 points or 1.69 per cent. Total transactions amounted to Bt67.115 billion with an index high of 1,347.45 and a low of 1,313.10.

In the morning session, a stock analyst at Krungsri Securities expected the index to fluctuate between 1,330 and 1,350 points.

“The market gained positive sentiment from the US Federal Reserve’s move to maintain the interest rate at 0-0.25 per cent and a promise that it would issue measures to help economic recovery amid the Covid-19 crisis,” the analyst explained.

“The index was also boosted by mass buy-ups of stocks whose second-quarter performance is expected to improve.”

However, the analyst said the index would be pressured by uncertainty following rising Covid-19 cases in the US and conflict there between lawmakers over $1 trillion in relief measures.

The 10 stocks with the highest trade value today were KCE, AOT, CPALL, HANA, DELTA, PTT, GULF, PTTEP, OSP, and SCC.

As of 4.30pm, the price of crude oil dropped by US$0.72 or 1.74 per cent to $40.55 per barrel, while gold dropped by $12.80 or 0.65 per cent, to $1,963.90 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 22,339.23, down 57.88 points, or 0.26 per cent

China’s Shang Hai SE Composite Index closed at 3,286.82, down 7.73 points, or 0.23 per cent, while the Shenzhen SE Component Index closed at 13,466.85, down 90.59 points, or 0.67 per cent.

Hong Kong’s Hang Seng Index closed at 24,710.59, down 172.55 points, or 0.69 per cent.

South Korea’s KOSPI Index closed at 2,267.01, up 3.85 points, or 0.17 per cent.

Taiwan’s TAIEX Index closed at 12,722.92, up 181.95 points, or 1.45 per cent.

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