SET rebounds despite IMF gloomy forecast on Thai GDP
The Stock Exchange of Thailand (SET) Index closed at 1,637.55 on Wednesday, up 7.16 points or 0.44 per cent. Transactions totalled 67.91 billion baht with an index high of 1,639.41 and a low of 1,632.62.
The index rose after sliding by 13.53 points or 0.82 per cent on Tuesday.
In the morning session, Krungsri Securities forecast the SET Index on Wednesday would fluctuate between 1,620 and 1,640 points.
It said the index would indicate negative sentiment from the lack of new factors, including a sales force to adjust the port after the index failed to pass the previous high of 1,660 points and the International Monetary Fund’s (IMF) forecast of the drop of Thai GDP in 2021 and 2022.
"However, the crude oil prices that remain at a high level, including the expected recovery of Thai economy from the country’s opening will help support the index to rebound," Krungsri Securities said.
The 10 stocks with the highest trade value today were KBANK, SCB, BANPU, SCGP, PTT, KCE, PTTEP, AOT, SCC and PTTGC.
Related stories:
- SET expected to fluctuate from the lack of new factors
- Baht fluctuates in line with gold price as investors offload some stocks
- Thai gold market stays steady
Other Asian indices were mixed:
Japan's Nikkei Index closed at 29,255.55, up 40.03 points or 0.14 per cent.
China's Shanghai SE Composite closed at 3,587.00, down 6.15 points or 0.17 per cent, while the Shenzhen SE Component closed at 14,452.25, down 47.52 points or 0.33 per cent.
Hong Kong's Hang Seng Index closed at 26,136.02, up 348.81 points or 1.35 per cent.
South Korea's KOSPI Index closed at 3,013.13, down 15.91 points or 0.53 per cent.
Taiwan's TAIEX Index closed at 16,887.82, down 12.85 points or 0.076 per cent.
