SET rises very slightly in response to Thailand’s signing of largest trade deal
The Stock Exchange of Thailand (SET) Index closed at 1,351.06 on Monday, up 4.59 points or 0.34 per cent. The volume of total transactions was Bt78.50 billion with an index high of 1,365.87 and a low of 1,351.04.
In the morning session, an analyst at Krungsri Securities said he expected the day’s index to rise to between 1,355 and 1,360 points in response to news of Thailand signing the Regional Comprehensive Economic Partnership (RCEP) pact and subsequent rise in regional stock indices.
“Investors, however, should beware of market volatility from uncertainty over escalating Covid-19 cases and domestic political unrest,” he said, adding that pro-democracy protesters are planning to rally again this week.
The SET rose more than 16 points in the morning session after the National Economic and Social Development Council (NESDC) revealed that Thailand’s gross domestic product (GDP) had contracted 6.4 per cent in the third quarter and 6.7 per cent in the first nine months. The NESDC expected Thailand's GDP to contract 6.7 per cent this year from the initial expectation of minus 7.3 to minus 7.8 per cent.
The top 10 stocks with the highest trade value today were STGT, SCGP, MINT, KBANK, VGI, GULF, PTT, WHA, GPSC and ADVANC.
As of 4.30pm, the price of oil had risen by US$0.58 or 1.45 per cent to $40.71 per barrel, while gold rose by $5.70 or 0.30 per cent, to $1,891.90 per ounce.
Other Asian indices were on the rise:
Japan’s Nikkei Index closed at 25,906.93, up 521.06 points or 2.05 per cent.
China’s Shanghai SE Composite Index closed at 3,346.97, up 36.86 points or 1.11 per cent, while Shenzhen SE Component Index closed at 13,850.83, up 96.28 points or 0.70 per cent.
Hong Kong’s Hang Seng Index closed at 26,381.67, up 224.81 points or 0.86 per cent.
South Korea’s KOSPI Index closed at 2,543.03, up 49.16 points or 1.97 per cent.
Taiwan's TAIEX Index closed at 13,551.83, up 278.50 points or 2.10 per cent.
