Monday, February 17, 2020

SET tops 1,600 points but stall predicted in week ahead

Jan 17. 2020
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By THE NATION

The Stock Exchange of Thailand (SET) Index ended at 1,600.48 points on Friday (January 17), up 4.61 points or 0.29 per cent from the previous day, while the average daily trading value was Bt61.064 billion.

Philip Security Thailand predicts lateral swings in the index in the coming week for lack of any new influential factors for investment.

It will also be limited due to high uncertainty, Philip said, estimating an index frame of 1,580-1,620 points.

Tisco Financial Group forecast in the morning that the Index would hit 1,605 points thanks to a positive outlook for global stocks and the crude oil price.

Global stocks rose on Thursday, with US markets hitting record levels after Washington announced financial results and other economic information.

The price of WTI crude oil rebounded by 1.2 per cent, conforming to approval from the US Senate for the revamped US-Mexico-Canada free-trade pact.

America’s rising economic strength is also bolstering global demand for oil.

Other Asian stock markets closed as follows:

Japan’s Nikkei Index closed at 24,041.26, up 108.13 points or 0.45 per cent.

China’s Shanghai SE Composite Index closed at 3,075.50, down 1.41 points or 0.046 per cent.

Hong Kong’s Hang Seng Index closed at 11,419.91, up 91.53 points or 0.81 per cent.

South Korea’s KOSPI Index closed at 2,250.57, up 2.52 points or 0.11 per cent.

Taiwan’s TAIEX Index closed at 12,090.29, down 23.36 points or 0.19 per cent.

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