By The Nation
A stock analyst at Krungsri Securities expected the SET Index on Wednesday (January 15) to fluctuate between 1,580 and 1,593 points.
“Although the SET Index may gain due to the US and China preparing to sign the first phase of their trade agreement on Wednesday, there are rumours that the US will not reduce import duties on Chinese goods,” the stock analyst said.
“The US will review the reduction of import duties on Chinese products by US$360 billion after the US election in November, leaving investors sceptical of the future of trade between the two countries.”
The stock analyst added that there also were rumours about foreign funds maintaining “net sell” at approximately Bt3 billion for four days, and fluctuation in the stocks of banking groups during the budget announcement for fiscal year 2020, which would lead to high fluctuations in the Thai bourse.
The SET Index on Tuesday closed at 1,587 points, up 0.74 points or 0.05 per cent, while the trading value was approximately Bt60 billion. Foreign investors sold a net of Bt843 million and also had net sales of Bt2.14 billion in the bond market, while the Thailand Futures Exchange has 3,688 net long-term contracts.