Saturday, June 19, 2021

business

Thai stocks rise after Fed maintains rate, QE


The Stock Exchange of Thailand (SET) Index closed at 1,590.46 on Thursday, up 13.67 points or 0.87 per cent. The volume of total transactions was THB89.56 billion with an index high of 1,592.90 and a low of 1,583.98.

In the morning session, Krungsri Securities expected the index to rise to between 1,585 and 1,590 points in response to the US Federal Reserve’s decision to maintain the interest rate at 0.25 per cent and continue its quantitative easing policy.

It added that energy shares had gained positive sentiment from the rising oil price.

“Mass buy-ups of stocks attracting positive sentiment and whose first-quarter performance is likely to improve will help boost the index,” said Krungsri Securities.

“However, we advise investors to follow reports on Thailand’s daily Covid-19 caseload as the index will be under pressure if the number rises.”

 

The 10 stocks with the highest trade value today were IRPC, SCC, PTT, PTTEP, PTTGC, KBANK, GUNKUL, CPALL, OR and SCGP.

Other Asian indices were mixed:

China’s Shang Hai SE Composite Index closed at 3,474.90, up 17.83 points or 0.52 per cent, while Shenzhen SE Component Index closed at 14,464.08, up 65.70 points or 0.46 per cent.

Hong Kong's Hang Seng Index closed at 29,303.26, up 231.92 points or 0.80 per cent.

South Korea's KOSPI closed at 3,174.07, down 7.40 points or 0.23 per cent.

Taiwan's TAIEX Index closed at 17,566.66, down 0.87 points or 0.0049 per cent.

Japan’s Nikkei Index was closed for Golden Week.

Published : April 29, 2021

By : The Nation