Tuesday, September 29, 2020

SET rises slightly over news of Covid-19 drug, stronger US, Europe economic data

Aug 04. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index rose 9.58 points or 0.72 per cent to close at 1,330.81 today (August 4). The volume of total transactions was Bt55.135 billion with an index high of 1,338.08 and a low of 1,328.13.

In the morning session, a stock analyst at Krungsri Securities said he expected the index to rebound between 1,330 and 1,335 before falling, as economic data from US and Europe showed signs of markets rebounding after the easing of lockdown measures.

“The price of oil dropped after the US and Euro-zone manufacturing purchasing managers index rose to 54.2 and 51.8, respectively,” the analyst said.

“The market also gained positive sentiment after a US pharmaceutical company said it had started the final phase of tests on a Covid-19 antibody.”

However, he said, uncertainty over United States’ $1-trillion economic relieve measures and listed companies’ second-quarter performance will pressure the index.

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

As of 4.30pm, the price of crude oil dropped by $0.52 or 1.27 per cent to $40.49 per barrel, while gold rose by $5.60 or 0.28 per cent, to $1,991.90 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 22,573.66, up 378.28 points, or 1.70 per cent.

China’s Shanghai SE Composite Index closed at 3,371.69, up 3.72 points, or 0.11 per cent, while Shenzhen SE Component Index closed at 13,860.46, down 104.10 points, or 0.75 per cent.

Hong Kong’s Hang Seng Index closed at 24,946.63, up 488.50 points, or 2.00 per cent.

South Korea’s KOSPI Index closed at 2,279.97, up 28.93 points, or 1.29 per cent.

Taiwan’s TAIEX Index closed at 12,709.92, up 196.89 points, or 1.57 per cent.

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