SET rebounds despite uncertainty over Covid-19, delays in US economic stimulus
The Stock Exchange of Thailand (SET) Index closed at 1,208.95 on Tuesday, up 0.98 points or 0.08 per cent. The volume of total transactions was Bt45 billion with an index high of 1,212.03 and a low of 1,197.74.
In the morning session, a Krungsri Securities analyst said he expected the index to fall to 1,200 points due to uncertainty over rising Covid-19 cases in the US and Europe, delays in the rollout of US economic stimulus measures and falling price of oil.
"The number of Covid-19 cases in the US hit a new high at 73,700 people last Friday," he said. "Meanwhile, there is a possibility that US economic stimulus measures will be rolled out after the presidential election because there is no sign that House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin will reach an agreement before that."
The top 10 stocks with the highest trade value today were SCGP, AOT, CPALL, PTT, KBANK, MINT, SCB, STA, BANPU and STGT.
As of 4.30pm, the price of oil rose by US$0.11 or 0.29 per cent to $38.67 per barrel, while gold dropped by $6.20 or 0.33 per cent, to $1,899.50 per ounce.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 23,485.80, down 8.54 points or 0.036 per cent.
China’s Shanghai SE Composite Index closed at 3,254.32, up 3.20 points or 0.098 per cent, while Shenzhen SE Component Index closed at 13,269.65, up 78.41 points or 0.59 per cent.
Hong Kong's Hang Seng Index closed at 24,787.19, down 131.59 points or 0.53 per cent.
South Korea's KOSPI Index closed at 2,330.84, down 13.07 points or 0.56 per cent.
Taiwan's TAIEX Index closed at 12,875.01, down 34.02 points or 0.26 per cent.
