Monday, November 30, 2020

SET closes below 1,200 points over fears of global slowdown

Oct 30. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,194.95 on Friday, down 6.69 points or 0.56 per cent. The volume of total transactions was Bt52.72 billion with an index high of 1,204.99 and a low of 1,187.49.

In the morning session, a Krungsri Securities analyst said he expected the day’s index to fluctuate between 1,195 and 1,210 due to uncertainty over a global economic slowdown after Germany and France imposed lockdown measures to contain the spread of Covid-19, which is pressuring the index.

"This negative sentiment has caused the oil price to drop as well," he said, adding that the index would rebound from mass buy-ups in shares whose third-quarter performance is expected to improve.

The top 10 stocks with the highest trade value today were SCGP, AOT, STA, PTT, CPALL, KBANK, SCC, SCB, BBL and STGT.

As of 4.30pm, the price of oil rose by US$0.21 or 0.58 per cent to $36.38 per barrel, while gold rose by $5.10 or 0.27 per cent, to $1,873.10 per ounce.

Other Asian indices were also on the slide:

Japan’s Nikkei Index closed at 22,977.13, down 354.81 points or 1.52 per cent.

China’s Shanghai SE Composite Index closed at 3,224.53, down 48.19 points or 1.47 per cent, while Shenzhen SE Component Index closed at 13,236.60, down 283.06 points or 2.09 per cent.

Hong Kong's Hang Seng Index closed at 24,107.42, down 479.18 points or 1.95 per cent.

South Korea's KOSPI Index closed at 2,267.15, down 59.52 points or 2.56 per cent.

Taiwan's TAIEX Index closed at 12,546.34, down 116.57 points or 0.92 per cent.

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