Thursday, October 22, 2020

SET sinks further amid lack of positive sentiment, falling oil price

Sep 30. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,237.04 on Wednesday, down 20.30 points or 1.61 per cent. The volume of total transactions was Bt48.98 billion with an index high of 1,260.06 and a low of 1,236.53.

In the morning session, an analyst at Krungsri Securities expected the day’s index to fall to the support line at 1,250 due to lack of positive sentiment and the sharp fall in oil price amid uncertain fuel demand during the Covid-19 crisis.

"Meanwhile, uncertainty over market volatility from the expiry of the SET's ceiling-floor adjustment, uptick rules and circuit-breaker would pressure the index," he said.

The 10 stocks with the highest trade value today were PTT, STGT, DIF, AOT, CPALL, KBANK, CPF, BBL, TKN and BDMS.

As of 4.30pm, the price of oil dropped by US$0.48 or 1.22 per cent to $38.81 per barrel, while gold dropped by $15.50 or 0.81 per cent, to $1,887.70 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 23,185.12, down 353.98 points or 1.50 per cent.

China’s Shang Hai SE Composite Index closed at 3,218.05, down 6.31 points or 0.20 per cent, while Shenzhen SE Component Index closed at 12,907.45, up 6.75 points or 0.052 per cent.

Hong Kong’s Hang Seng Index closed at 23,459.05, up 183.52 points or 0.79 per cent.

Taiwan’s TAIEX Index closed at 12,515.61, up 47.88 points or 0.38 per cent.

South Korea’s KOSPI Index was closed for Chuseok festival.

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