Thursday, October 22, 2020

SET slumps over prospect of student-led political rallies

Sep 29. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,257.34 on Tuesday, down 5.68 points or 0.45 per cent. The volume of total transactions was Bt38.20 billion with an index high of 1,267.67 and a low of 1,254.34.

In the morning session, an analyst at Krungsri Securities said he expected the index to rise to between 1,270 and 1,275 points, as investors were ready to take more risks for larger returns leading to a rise in global stock markets.

However, Therdsak Thaveeteeratham, Asia Plus Securities vice president for research, said the index has limited room to rise due to the Covid-19 outbreak and the domestic political situation, as student-led protesters are set to hold a rally in October.

This is despite the fact that US lawmakers have finally come to an agreement on economic stimulus measures.

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

As of 4.30pm, the price of oil dropped by US$0.31 or 0.76 per cent to $40.29 per barrel, while gold rose by $6.90 or 0.37 per cent, to $1,889.20 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 23,539.10, up 27.48 points or 0.12 per cent.

China’s Shanghai SE Composite Index closed at 3,224.36, up 6.82 points or 0.21 per cent, while Shenzhen SE Component Index closed at 12,900.70, up 139.76 points or 1.10 per cent.

Hong Kong’s Hang Seng Index closed at 23,275.53, down 200.52 points or 0.85 per cent.

South Korea’s KOSPI Index closed at 2,327.89, up 19.81 points or 0.86 per cent.

Taiwan’s TAIEX Index closed at 12,467.73, up 4.97 points or 0.040 per cent.

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