Monday, November 30, 2020

SET slumps over delay in US stimulus measures, political unrest

Oct 22. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,213.61 on Thursday, down 2.87 points or 0.24 per cent, while transactions tallied at Bt66 billion with an index high of 1,223.48 and a low of 1,204.73.

In the morning session, a Krungsri Securities analyst said he expected the index to fall to 1,210 points due to uncertainty over fresh US economic stimulus measures.

“The market expects the rollout of the latest stimulus bill to be delayed after added conflict between the Democrats and the Republicans,” he said.

“Meanwhile, the falling oil price due to the second Covid-19 wave, Thailand’s political unrest and mass sell-offs in stocks before the upcoming three-day holiday will pressure the index,” the analyst predicted.

The top 10 stocks with the highest trade value today were SCGP, CPALL, STA, NER, PTTEP, AOT, GULF, SCC, KBANK and PTT.

As of 4.30pm, the price of oil rose by US$0.07 or 0.17 per cent to $40.10 per barrel, while gold dropped by $9.90 or 0.51 per cent, to $1,919.60 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 23,474.27, down 165.19 points or 0.70 per cent.

China’s Shanghai SE Composite Index closed at 3,312.50, down 12.52 points or 0.38 per cent, while Shenzhen SE Component Index closed at 13,396.18, down 71.73 points or 0.53 per cent.

Hong Kong's Hang Seng Index closed at 24,786.13, up 31.71 points or 0.13 per cent.

South Korea's KOSPI Index closed at 2,355.05, down 15.81 points or 0.67 per cent.

Taiwan's TAIEX Index closed at 12,917.03, up 39.78 points or 0.31 per cent.

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