By The Nation
In the morning session, a stock analyst at Krungsri Securities expected the index to rise between 1,330 and 1,335, before falling, in response to hopes US Congress will agree on a $1-trillion economic stimulus package this week.
"Also, the market gained positive sentiment from a rise in the oil price which climbed back above US$42 per barrel," he said.
However, the analyst said the index would be under pressure from escalating US-China tensions after Beijing imposed sanctions on US lawmakers in retaliation for Washington slapping sanctions on 11 Hong Kong and Chinese officials.
"Meanwhile, we expect investors to hold off making deals while they follow US-China trade negotiations on August 15 and assess the progress of the first phase of their trade agreement, while the SET will be closed on Wednesday for Mother's Day," he said.
The 10 stocks with the highest trade value today were AOT, MINT, PTT, KBANK, NER, ADVANC, TU, STGT, PTTEP and SCB.
As of 4.30pm, the price of crude oil rose by US$0.54 or 1.29 per cent to $42.48 per barrel, while gold dropped by $36.10 or 1.77 per cent, to $2,003.60 per ounce.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 22,750.24, up 420.30 points, or 1.88 per cent.
China’s Shang Hai SE Composite Index closed at 3,340.29, down 38.96 points, or 1.15 per cent, while the Shenzhen SE Component Index closed at 13,466.27, down 191.05 points, or 1.40 per cent.
Hong Kong’s Hang Seng Index closed at 24,890.68, up 513.25 points, or 2.11 per cent.
South Korea’s KOSPI Index closed at 2,418.67, up 32.29 points, or 1.35 per cent.
Taiwan’s TAIEX Index closed at 12,780.19, down 113.81 points, or 0.88 per cent.