Wednesday, November 25, 2020

SET rises despite mass sell-offs ahead of Bangkok protest

Oct 12. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,273.43 on Monday, up 6.29 points or 0.50 per cent. Total transactions amounted to Bt46 billion with an index high of 1,277.64 and a low of 1,265.27.

In the morning session, an analyst at Krungsri Securities expected the day’s index to fluctuate between 1,260 and 1,275 despite progress in talks on US economic stimulus measures.

"Uncertainty over mass sell-offs in to mitigate risks from the [Bangkok] political rally on October 14 and weak third-quarter performances of banks will pressure the index," he said.

The 10 stocks with the highest trade value on Monday were PTT, STA, CPF, STGT, NER, IVL, KBANK, CPALL, MINT and PTTEP.

As of 4.30pm, the price of oil dropped by US$0.58 or 1.43 per cent to $40.02 per barrel, while gold dropped by $1.10 or 0.06 per cent, to $1,925.10 per ounce.

Other Asian indices were up, with the exception of Japan:

Japan’s Nikkei Index closed at 23,558.69, down 61.00 points or 0.26 per cent.

China’s Shang Hai SE Composite Index closed at 3,358.46, up 86.39 points or 2.64 per cent, while the Shenzhen SE Component Index closed at 13,708.07, up 418.80 points or 3.15 per cent.

Hong Kong's Hang Seng Index closed at 24,649.68, up 530.55 points or 2.20 per cent.

South Korea's KOSPI Index closed at 2,403.73, up 11.77 points or 0.49 per cent.

Taiwan's TAIEX Index closed at 12,955.91, up 68.72 points or 0.53 per cent.

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