Sat, October 23, 2021

business

SET Index drops 0.7% under shadow of QE tapering


The Stock Exchange of Thailand (SET) Index closed at 1,605.68 on Thursday, down 11.30 points or 0.70 per cent. Transactions totalled 90.65 billion baht with an index high of 1,621.15 and a low of 1,601.79.

The index fell after rising slightly by 0.03 per cent on Wednesday.

In the morning session, Krungsri Securities expected Thursday’s index to fluctuate between 1,610 and 1,630 points due to a lack of fresh positive sentiment.

It said the index is under pressure amid rising US inflation and the Federal Reserve signalling it will taper its quantitative easing programme and raise the interest rate sooner than expected.

“However, mass buy-ups of stocks enjoying specific positive sentiment, plus hope of Thailand reopening after a decline in domestic Covid-19 infections, would help boost the index,” Krungsri Securities said.

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The 10 stocks with the highest trade value today were KBANK, GUNKUL, SCB, TRUE, UBE, PTT, AOT, BBL, DELTA and PTTEP.

Other Asian indices were mixed:

Japan's Nikkei Index closed at 29,452.66, down 91.63 points or 0.31 per cent.

China's Shanghai SE Composite Index closed at 3,568.17, up 31.87 points or 0.90 per cent, while the Shenzhen SE Component Index closed at 14,309.01, up 229.99 points or 1.63 per cent.

Hong Kong's Hang Seng Index closed at 24,575.64, down 87.86 points or 0.36 per cent.

South Korea's KOSPI closed at 3,068.82, up 8.55 points or 0.28 per cent.

Taiwan's TAIEX closed at 16,934.77, up 79.31 points or 0.47 per cent.

Published : September 30, 2021