Tue, December 07, 2021

business

SET loses 0.56 per cent on worries over QE tapering


The Stock Exchange of Thailand (SET) Index closed at 1,634.20 on Monday, down 9.22 points or 0.56 per cent. Transactions totalled 65 billion baht with an index high of 1,645.91 and a low of 1,631.29.

The index fell after rising by 5.87 points or 0.36 per cent on Thursday. The index on Friday was closed for substitution for Chulalongkorn Memorial Day. 

In the morning session, Krungsri Securities forecast the SET Index on Monday would fluctuate between 1,635 and 1,655 points.

It said the index gained positive sentiment from rising oil price of above US$83 per barrel, the government's move to lift the curfew in 17 provinces and the Bank of Thailand's move to relax loan-to-value (LTV) mortgage rule.

"However, the index would be under pressure due to uncertainty the US Federal Reserve signalling it would taper its quantitative easing in November and mass sell-offs of shares after the index hit the resistance line," Krungsri Securities said.

The 10 stocks with the highest trade value today were KBANK, BBL, BANPU, SPALI, AOT, CPALL, IRPC, SCB, BDMS and LH.

Other Asian indices were up with one exception:

Japan's Nikkei Index closed at 28,600.41, down 204.44 points or 0.71 per cent.

China's Shanghai SE Composite closed at 3,609.86, up 27.26 points or 0.76 per cent, while the Shenzhen SE Component closed at 14,596.72, up 103.90 points or 0.72 per cent.

Hong Kong's Hang Seng Index closed at 26,132.03, up 5.10 points or 0.020 per cent.

South Korea's KOSPI Index closed at 3,020.54, up 14.38 points or 0.48 per cent.

Taiwan's TAIEX Index closed at 16,894.24, up 5.50 points or 0.033 per cent.

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Published : October 25, 2021

By : THE NATION