SET levels out under pressure from tight valuation
The Stock Exchange of Thailand (SET) Index closed at 1,516.94 on Wednesday, down 1.33 points or 0.09 per cent. Total transactions amounted to Bt74.89 billion with an index high of 1,527.88 and a low of 1,513.13.
In the morning session, a Krungsri Securities analyst expected the SET to fluctuate between 1,510 and 1,530 points despite hopes of fresh US economic relief and the rising oil price.
“The SET will be under pressure from its tight valuation at price-to-earnings of 30 times,” he added.
The 10 stocks with the highest trade value today were BAM, GPSC, PTT, GULF, KBANK, BBL, KTC, SCB, MINT and THCOM.
As of 4.30pm, the price of oil rose by US$0.19 or 0.33 per cent to $58.55 per barrel, while gold rose by $7.70 or 0.42 per cent to $1,845.20 per ounce.
Other Asian indices were on the rise:
Japan’s Nikkei Index closed at 29,562.93, up 57.00 points or 0.19 per cent.
China’s Shang Hai SE Composite Index closed at 3,655.09, up 51.60 points or 1.43 per cent, while the Shenzhen SE Component Index closed at 15,962.25, up 331.68 points or 2.12 per cent.
Hong Kong's Hang Seng Index closed at 30,038.72, up 562.53 points or 1.91 per cent.
South Korea's KOSPI closed at 3,100.58, up 15.91 points or 0.52 per cent.
Taiwan's TAIEX Index was closed for Lunar New Year.