SET rallies despite Trump putting off economic stimulus negotiations
The Stock Exchange of Thailand (SET) Index closed at 1,263.71 on Wednesday, up 13.56 points or 1.08 per cent, while transactions tallied at Bt52.31 billion with an index high of 1,264.29 and a low of 1,245.09.
In the morning session, a Krungsri Securities analyst said he expected the index to move sideways between 1,240 and 1,260 points despite positive sentiment over the rising price of oil and Thailand’s Centre for Economic Situation Administration decision to discuss measures to stimulate spending in the latter part of the year.
“President Donald Trump’s decision to postpone negotiations for the economic stimulus bill until after the elections and foreign investors’ mass sell-offs will pressure the index,” he said.
The top 10 stocks with the highest trade value today were TKN, IVL, AOT, MINT, PTT, PTTEP, CPALL, TU, STGT and KBANK.
As of 4.30pm, the price of oil dropped by US$0.90 or 2.21 per cent to $39.77 per barrel, while gold dropped by $18 or 0.94 per cent, to $1,890.80 per ounce.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 23,422.82, down 10.91 points or 0.047 per cent.
Hong Kong’s Hang Seng Index closed at 24,242.86, up 262.21 points or 1.09 per cent.
South Korea's KOSPI Index closed at 2,386.94, up 21.04 points or 0.89 per cent.
Taiwan's TAIEX Index closed at 12,746.37, up 42.14 points or 0.33 per cent.
China's stock markets were closed for the Moon Festival.
