Thai stocks rise as US readies $3tn spending plan
The Stock Exchange of Thailand (SET) Index closed at 1,590.97 on Tuesday, up 7.08 points or 0.45 per cent. Total transactions amounted to Bt97 billion with an index high of 1,593.52 and a low of 1,585.06.
In the morning session, a Krungsri Securities analyst expected the index to rise to between 1,590 and 1,600 during the day in line with the direction of US and Asian indices.
He said the index also gained positive sentiment from the rising oil price after Russia backed Opec+ on oil production levels through May this year.
However, a rising US bond yield and volatility due to a rollover in the Thailand Futures Exchange market would pressure the index, he said.
He advised investors to follow US President Joe Biden's announcement of a $3-trillion infrastructure plan on Wednesday.
The 10 stocks with the highest trade value today were CPALL, COM7, OR, PTT, KTC, BANPU, DELTA, AOT, CBG and BBL.
Other Asian indices were on the rise:
Japan’s Nikkei Index closed at 29,432.70, up 48.18 points or 0.16 per cent.
China’s Shang Hai SE Composite Index closed at 3,456.68, up 21.38 points or 0.62 per cent, while Shenzhen SE Component Index closed at 13,888.44, up 117.18 points or 0.85 per cent.
Hong Kong's Hang Seng Index closed at 28,577.50, up 239.20 points or 0.84 per cent.
South Korea's KOSPI Index closed at 3,070.00, up 33.96 points or 1.12 per cent.
Taiwan's TAIEX Index closed at 16,554.90, up 78.93 points or 0.48 per cent.
