Thai stock market levels out amid tight valuation
The Stock Exchange of Thailand (SET) Index closed at 1,523.11 on Tuesday, up 0.39 points or 0.03 per cent. Total transactions amounted to Bt87.87 billion with an index high of 1,531.29 and a low of 1,522.41. The SET levelled out after yesterday’s gain of almost 1 per cent.
In the morning session, a Krungsri Securities analyst forecast the day’s index would fluctuate between 1,515 and 1,520 points on hopes of US stimulus rollout as well as mass buy-ups of stocks whose fourth-quarter performance is expected to improve.
"However, investors should beware of mass sell-offs due to the SET's tight valuation and the impact of cash balance rules on Delta Electronics shares," he said.
The 10 stocks with the highest trade value today were OR, EA, PTTGC, PTT, CBG, KBANK, BAM, GPSC, BBL and IVL.
As of 4.30pm, the price of oil rose by US$0.35 or 0.59 per cent to $59.82 per barrel, while gold rose by $0.10 or 0.01 per cent to $1,823.30 per ounce.
For other Asian indices:
Japan’s Nikkei Index closed at 30,467.75, up 383.60 points or 1.28 per cent.
Hong Kong's Hang Seng Index closed at 30,746.66, up 573.09 points or 1.90 per cent.
South Korea's KOSPI closed 3,163.25, up 16.25 points or 0.52 per cent.
Stock markets in mainland China and Taiwan were closed for Lunar New Year.