SET sinks over 2% amid worries court ruling could oust PM
The Stock Exchange of Thailand (SET) Index closed at 1,408.31 on Monday, down 29.47 points or 2.05 per cent. Total transactions amounted to Bt120 billion with an index high of 1,435.04 and a low of 1,408.02.
In the morning session, a Krungsri Securities analyst predicted the day's index would fluctuate between 1,425 and 1,450 as investors awaited outcomes from the Opec+ meeting on Monday and Tuesday and the Constitutional Court's ruling in a case against Prime Minister General Prayut Chan-o-cha on Wednesday (December 2). Prayut could be removed from office if found guilty of illegally benefitting by occupying his Army residence after retirement.
"Also, the MSCI's move to rebalance its portfolio on Monday will cause volatility in the index," said the analyst.
The 10 stocks with the highest trade value today were DELTA, PTT, STGT, KBANK, CPALL, ADVANC, IRPC, TMB, AOT and IVL.
As of 4.30pm, the price of oil dropped by US$0.61 or 1.34 per cent to $44.92 per barrel, while gold dropped by $11.20 or 0.63 per cent, to $1,776.90 per ounce.
Other Asian indices were on the fall:
Japan’s Nikkei Index closed at 26,433.62, down 211.09 points or 0.79 per cent.
China’s Shang Hai SE Composite Index closed at 3,391.76, down 16.55 points or 0.49 per cent, while Shenzhen SE Component Index closed at 13,670.11, down 20.77 points or 0.15 per cent.
Hong Kong's Hang Seng Index closed at 26,341.49, down 553.19 points or 2.06 per cent.
South Korea's KOSPI Index closed at 2,591.34, down 42.11 points or 1.60 per cent.
Taiwan's TAIEX Index closed at 13,722.89, down 144.20 points or 1.04 per cent.
