Sat, October 23, 2021

business

SET down as investors worry over possible US interest rate hike


The Stock Exchange of Thailand (SET) Index closed at 1,571.85 on Wednesday, down 7.08 points or 0.45 per cent. The volume of total transactions was THB117.16 billion with an index high of 1,578.34 and a low of 1,557.94.

In the morning session, Krungsri Securities forecast the index on Wednesday would fluctuate between 1,570 and 1,590 points amid concern over rising inflation as countries move to inject stimulus cash, which has triggered worries that the US Federal Reserve will hike the interest rate.

Meanwhile, the SET would be under pressure from the mounting number of Covid-19 cases in Thailand, said Krungsri.

“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve will help boost the index,” it added.

It advised investors to follow the US Consumer Price Index in April as this could trigger the Fed to raise the interest rate.

The 10 stocks with the highest trade value today were DELTA, TIDLOR, KBANK, SAWAD, KCE, CBG, IRPC, PTT, SCGP and SCB.

Other Asian indices were mixed:

Japan's Nikkei Index closed at 28,147.51, down 461.08 points or 1.61 per cent.

China's Shanghai SE Composite Index closed at 3,462.75, up 20.91 points or 0.61 per cent, while the Shenzhen SE Component Index closed at 14,064.86, up 98.08 points or 0.70 per cent.

Hong Kong's Hang Seng Index closed at 28,231.04, up 217.23 points or 0.78 per cent.

South Korea's KOSPI closed at 3,161.66, down 47.77 points or 1.49 per cent.

Taiwan's TAIEX Index closed at 15,902.37, down 680.76 points or 4.11 per cent.

Published : May 12, 2021

By : The Nation