Tue, December 07, 2021

business

SET drops 0.20 per cent amid falling oil price, QE tapering worries


The Stock Exchange of Thailand (SET) Index closed at 1,624.31 on Thursday, down 3.30 points or 0.20 per cent. Transactions totalled 74.09 billion baht with an index high of 1,632.30 and a low of 1,622.56.

The index dropped for the second day running after falling by 8.36 points or 0.51 per cent on Wednesday.

In the morning session, Krungsri Securities forecast the SET Index on Thursday would fall to between 1,615 and 1,620 points.

It said negative sentiment of falling oil price after the US oil storage had risen by 4.3 million barrels, plus mass sell-offs of shares amid worries over the European Central Bank would taper its quantitative easing (QE) programme during the meeting, would pressure the index.

"However, mass buy-ups of shares whose third-quarter profit is expected to grow would help the index to rebound," Krungsri Securities said.

The 10 stocks with the highest trade value today were BANPU, GULF, PTT, PTTEP, CBG, KBANK, SCC, PTTGC, IVL and GPSC.

Other Asian indices were on the fall:

  • Japan's Nikkei Index closed at 28,820.09, down 278.15 points or 0.96 per cent.
  • China's Shanghai SE Composite closed at 3,518.42, down 43.89 points or 1.23 per cent, while the Shenzhen SE Component closed at 14,244.82, down 148.69 points or 1.03 per cent.
  • Hong Kong's Hang Seng Index closed at 25,555.73, down 73.01 points or 0.28 per cent.
  • South Korea's KOSPI Index closed at 3,009.55, down 15.94 points or 0.53 per cent.
  • Taiwan's TAIEX Index closed at 17,041.63, down 32.92 points or 0.19 per cent.

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Published : October 28, 2021

By : THE NATION