SATURDAY, February 24, 2024

Thai stocks fall back after 8-day surge

Thai stocks fall back after 8-day surge

The Stock Exchange of Thailand (SET) Index closed at 1,634.48 on Wednesday, down 4.27 points or 0.26 per cent. Transactions totalled THB117.67 billion with an index high of 1,646.07 and a low of 1,628.16 as the index broke an eight-day run of rises.

In the morning session, Krungsri Securities expected Wednesday’s index to rise to between 1,643 and 1,650 points before falling back.

It said the SET gained positive sentiment from the US Federal Reserve signalling it would not rush to raise the interest rate, and the first day of lockdown easing in Thailand amid a falling domestic infection rate.

“However, the index would be under pressure from short term mass sell-offs and signs of overbought stocks,” Krungsri Securities said.

The 10 stocks with the highest trade value today were MAKRO, CPALL, DELTA, PTT, U, KBANK, BBL, GULF, KCE and B.

Other Asian indices were mixed:

Japan's Nikkei Index closed at 28,451.02, up 361.48 points or 1.29 per cent.

China's Shanghai SE Composite Index closed at 3,567.10, up 23.16 points or 0.65 per cent, while the Shenzhen SE Component Index closed at 14,314.09, down 14.30 points or 0.100 per cent.

Hong Kong's Hang Seng Index closed at 26,028.29, up 149.30 points or 0.58 per cent.

South Korea's KOSPI Index closed at 3,207.02, up 7.75 points or 0.24 per cent.

Taiwan's TAIEX Index closed at 17,473.99, down 16.30 points or 0.093 per cent.