Thai stock market down for 3rd successive day
The Stock Exchange of Thailand (SET) Index closed at 1,510.13 on Monday, down 9.00 points or 0.59 per cent. Total transactions amounted to Bt74.43 billion with an index high of 1,515.51 and a low of 1,503.04. The SET was down for a third successive day of trading, after dropping 0.73 per cent and 0.84 per cent on Thursday and Friday.
In Monday’s morning session, an analyst at Krungsri Securities forecast the index would drop to between 1,500 and 1,510 due to uncertainty over whether US President-elect Joe Biden's pledge to raise corporate tax would pressure companies' turnover.
"The SET will also be under pressure from its tight valuation, the decline in foreign fund flows and falling oil price in response to countries' lockdowns," he said.
The 10 stocks with the highest trade value today were PTT, TASCO, CPF, GPSC, CBG, EA, KBANK, CPALL, PTTEP and NER.
As of 4.30pm, the price of oil dropped by US$0.03 or 0.06 per cent to $52.33 per barrel, while gold rose by $1.30 or 0.07 per cent to $1,831.20 per ounce.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 28,242.21, down 276.97 points or 0.97 per cent.
China’s Shang Hai SE Composite Index closed at 3,596.22, up 29.85 points or 0.84 per cent, while Shenzhen SE Component Index closed at 15,269.27, up 237.57 points or 1.58 per cent.
Hong Kong's Hang Seng Index closed at 28,862.77, up 288.91 points or 1.01 per cent.
South Korea's KOSPI Index closed at 3,013.93, down 71.97 points or 2.33 per cent.
Taiwan's TAIEX Index closed at 15,612.00, down 4.39 points or 0.028 per cent.
