Thai stock market up 0.48% on hopes of US stimulus, rising oil price
The Stock Exchange of Thailand (SET) Index closed at 1,547.31 on Wednesday, up 7.46 points or 0.48 per cent. Total transactions amounted to Bt106.7 billion with an index high of 1,561.66 and a low of 1,542.42.
In the morning session, an analyst at Krungsri Securities forecast the day’s index would fluctuate between 1,530 and 1,550 points amid signs US President-elect Joe Biden would launch stimulus measures, and a rising oil price after Saudi Arabia cut production capacity by 1 million barrels per day.
However, the index would be pressured by its tight valuation at a price-to-earnings ratio of 30 times, the analyst said.
The 10 stocks with the highest trade value today were PTT, EA, GPSC, PTTEP, KBANK, AEONTS, PTTGC, SCGP, SCB and AOT.
As of 4.30pm, the price of oil rose by US$0.17 or 0.32 per cent to $53.38 per barrel, while gold rose by $6.90 or 0.37 per cent, to $1,851.10 per ounce.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 28,456.59, up 292.25 points or 1.04 per cent.
China’s Shang Hai SE Composite Index closed at 3,598.65, down 9.69 points or 0.27 per cent, while Shenzhen SE Component Index closed at 15,365.43, down 94.60 points or 0.61 per cent.
Hong Kong's Hang Seng Index closed at 28,235.60, down 41.15 points or 0.15 per cent.
South Korea's KOSPI Index closed at 3,148.29, up 22.34 points or 0.71 per cent.
