Thursday, October 22, 2020

SET rises over hopes of US economic stimulus package

Oct 01. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,247.59 on Thursday, up 10.55 points or 0.85 per cent. The volume of total transactions was Bt44.86 billion with an index high of 1,251.11 and a low of 1,232.81.

During the morning session, an analyst at Krungsri Securities said he expected the index to rebound to 1,245 points before falling from hopes that US lawmakers will reach an agreement on further economic stimulus measures and also a rise in the price of oil.

“US Treasury secretary Steven Mnuchin and House speaker Nancy Pelosi have indicated that Republicans and Democrats will reach an agreement soon,” the analyst said.

“However, investors should beware of high market volatility after the expiration of SET’s ceiling-floor adjustment, uptick rules and a circuit breaker, as well as a mass sell-off of Thai shares by foreign investors,” he said.

The top 10 stocks with the highest trade value today were MICRO, SCC, BANPU, KBANK, AOT, PTT, STGT, CPF, CPALL and MINT.

As of 4.30pm, the price of oil dropped by US$0.13 or 0.32 per cent to $40.09 per barrel, while gold rose by $4.10 or 0.22 per cent, to $1,899.60 per ounce.

Among other Asian Indices, Japan’s Nikkei Index closed at 23,184.93, down 0.19 points or 0.00082 per cent.

China and Hong Kong stock indices were closed for National Day, South Korea’s KOSPI Index was closed for Chuseok festival, and Taiwan’s TAIEX Index was closed for the Moon festival.

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