SET boosted by Trump’s U-turn on stimulus measures
The Stock Exchange of Thailand (SET) Index closed at 1,274.83 on Thursday, up 11.12 points or 0.88 per cent. The volume of total transactions was Bt56 billion with an index high of 1,282.65 and a low of 1,269.50.
In the morning session, a Krungsri Securities analyst said he expected the index to rise to between 1,270 and 1,275 points before falling in response to news that President Donald Trump has made a U-turn and is moving again to promote economic stimulus measures as well as inject cash to help the aviation industry and small businesses. Another positive factor is Thailand’s Centre for Economic Situation Administration approving measures to stimulate consumer spending from October 23 to December 31.
However, the analyst warned investors to beware of mass sell-offs by foreign investors as this would pressure the index.
The top 10 stocks with the highest trade value today were DELTA, PTT, CRC, KBANK, MINT, AOT, IVL, STGT, TU and ADVANC.
As of 4.30pm, the price of oil rose by US$0.61 or 1.53 per cent to $40.56 per barrel, while gold rose by $5.70 or 0.30 per cent, to $1,896.50 per ounce.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 23,647.07, up 224.25 points or 0.96 per cent.
Hong Kong's Hang Seng Index closed at 24,193.35, down 3.78 49.51 points or 0.20 per cent.
South Korea's KOSPI Index closed at 2,391.96, up 5.02 points or 0.21 per cent.
Taiwan's TAIEX Index closed at 12,887.19, up 140.82 points or 1.10 per cent.
China's stock markets were closed for the Moon Festival.
