Thai stock market down 0.3% as investors eye foreign fund outflows
The Stock Exchange of Thailand (SET) Index closed at 1,481.75 on Wednesday, down 4.50 points or 0.30 per cent. Total transactions amounted to Bt79.48 billion with an index high of 1,500.17 and a low of 1,481.69
In the morning session, Krungsri Securities expected the day’s index to rise to between 1,495 and 1,500 points on hopes of US stimulus rollout together with a decline in US Covid-19 cases.
He said the index gained positive sentiment from the rising oil price after the Opec+ bloc decided to maintain oil production at current levels.
“However, investors should beware of volatility due to the outflow of foreign funds and the index’s resistance level of 1,500 points,” he said.
The 10 stocks with the highest trade value today were KBANK, PTT, SCB, BBL, SCC, ADVANC, MINT, PTTEP, CBG and CPALL.
As of 4.30pm, the price of oil rose by US$0.15 or 0.27 per cent to $54.91 per barrel, while gold rose by $3.00 or 0.16 per cent to $1,836.40 per ounce.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 28,646.50, up 284.33 points or 1.00 per cent.
China’s Shang Hai SE Composite Index closed at 3,517.31, down 16.38 points or 0.46 per cent, while the Shenzhen SE Component Index closed at 15,233.15, down 102.51 points or 0.67 per cent.
Hong Kong's Hang Seng Index closed at 29,307.46, up 58.76 points or 0.20 per cent.
South Korea's KOSPI closed at 3,129.68, up 32.87 points or 1.06 per cent.
Taiwan's TAIEX closed at 15,771.32, up 11.27 points or 0.072 per cent.