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Thai stocks rise to buck Asia’s downward trend

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The Stock Exchange of Thailand (SET) Index closed at 1,570.83 on Wednesday, up 6.58 points or 0.42 per cent. Total transactions amounted to Bt85 billion with an index high of 1,570.84 and a low of 1,555.72.

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The rise exceeded a forecast by Krungsri Securities, which said the day’s index would fall to between 1,555 and 1,560 points due to a new wave of Covid-19 in Europe and the falling oil price.

Instead, trade was buoyed after the Bank of Thailand's Monetary Policy Committee voted unanimously to maintain the benchmark interest rate at 0.50 per cent to support the fragile economic recovery.

“Meanwhile, the index will be under pressure from uncertainty over the US move to increase corporate tax, and volatility in fund flows,” said Krungsri Securities.

The 10 stocks with the highest trade value today were OR, SCC, SAWAD, KBANK, SCGP, PTT, TASCO, PTTGC, DELTA and PTTEP.

Other Asian indices were on the slide:

Japan’s Nikkei Index closed at 28,405.52, down 590.40 points or 2.04 per cent.

China’s Shang Hai SE Composite Index closed at 3,367.06, down 44.45 points or 1.30 per cent, while Shenzhen SE Component Index closed at 13,407.35, down 199.92 points or 1.47 per cent.

Hong Kong's Hang Seng Index closed at 27,918.14, down 579.24 points or 2.03 per cent.

South Korea's KOSPI closed at 2,996.35, down 8.39 points or 0.28 per cent.

Taiwan's TAIEX Index closed at 16,032.12, down 145.47 points or 0.90 per cent.

Published : March 24, 2021

By : The Nation