By The Nation
During the morning session, an analyst from Krungsri Securities said he expected the index to fluctuate between 1,315 and 1,335, despite the market gaining positive sentiment from strong US economic data.
“In July, non-farming payroll in the US rose by 1.763 million positions, while its unemployment rate dropped to 10.2 per cent," he said. “Investors also expect US lawmakers to reach an agreement soon on a $1-trillion stimulus package.”
However, the analyst said the US-China conflict, falling oil prices and mass sell-offs will pressure the index.
“The US-China conflict escalated recently when Washington banned China’s TikTok and WeChat applications, while the price of oil dropped due to uncertainty over decline in fuel demand as Covid-19 cases continue to rise,” he said.
The top 10 stocks with the highest trade value today were CBG, NER, STA, AOT, EA, PTT, STGT, UTP, CPF and ADVANC.
As of 4.30pm, the price of crude oil rose by $0.69 or 1.67 per cent to $41.91 per barrel, while gold rose by $15.40 or 0.76 per cent, to $2,043.40 per ounce.
Other Asian indices were mixed:
China’s Shanghai SE Composite Index closed at 3,379.25, up 25.22 points, or 0.75 per cent, while Shenzhen SE Component Index closed at 13,657.31, up 8.81 points, or 0.065 per cent.
Hong Kong’s Hang Seng Index closed at 24,377.43, down 154.19 points, or 0.63 per cent.
South Korea’s KOSPI Index closed at 2,386.38, up 34.71 points, or 1.48 per cent.
Taiwan’s TAIEX Index closed at 12,894, up 65.13 points, or 0.51 per cent.
Japan’s Nikkei Index was closed for Mountain Day public holiday on Monday (August 10).