Thursday, October 22, 2020

SET sinks for fourth consecutive day amid lockdowns, delayed US stimulus

Sep 24. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,247.46 on Thursday, down 16.55 points or 1.31 per cent. Total transactions amounted to Bt56.23 billion with an index high of 1,260.31 and a low of 1,241.52.

In the morning session, an analyst at Krungsri Securities expected the day’s index to fall to 1,250 points after countries reimposed lockdown measures following a surge in Covid-19 cases.

“On Wednesday night [September 23], the US Purchasing Managers’ Index dropped to its lowest in two months, while the Dow Jones Index fell more than 525 points due to uncertainty over delayed rollout of US economic stimulus measures,” he said.

“The measures are stuck in Congress, while the market expects the stimulus rollout to be delayed until after the [November 3] presidential election,” he added.

The 10 stocks with the highest trade value today were AOT, PTT, KBANK, STGT, CPALL, GULF, CPF, TASCO, ADVANC and SAWAD.

As of 4.30pm, the price of oil dropped by US$0.29 or 0.73 per cent to $39.64 per barrel, while gold dropped by $13.50 or 0.72 per cent, to $1,854.90 per ounce.

Other Asian indices all fell:

Japan’s Nikkei Index closed at 23,087.82, down 258.67 points or 1.11 per cent.

China’s Shang Hai SE Composite Index closed at 3,223.18, down 56.53 points or 1.72 per cent, while the Shenzhen SE Component Index closed at 12,816.61, down 293.47 points or 2.24 per cent.

Hong Kong’s Hang Seng Index closed at 23,311.07, down 431.44 points or 1.82 per cent.

South Korea’s KOSPI Index closed at 2,272.70, down 60.54 points or 2.59 per cent.

Taiwan’s TAIEX Index closed at 12,264.38, down 319.50 points or 2.54 per cent.

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