Friday, April 10, 2020

China's injection triggers rebound of Asian markets 

Feb 04. 2020
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By The Nation

SET and other markets in the region staged a rebound on Tuesday (February 4), due mainly to China's efforts in containing impact of the coronavirus crisis on its economy. 

The Stock Exchange of Thailand (SET) closed at 1,519.38, up 23.32 points (1.56 per cent) from the end of trade on Monday, with a total trade volume of Bt58.69 billion. The SET index moved between 1,499.21 and 1,520.10 during the day's trading. 

Tisco Research had predicted a rebound of SET Index with support at 1,490-1,480 and resistance at 1,500-1,515, in view of the rise in US productivity index and the injection of US$21 billion by China's central bank to offset impact of the coronavirus on the economy. 

Elsewhere in Asia, Japan’s Nikkei Index closed at 23,084.59, up 112.65points, or 0.49 per cent.

The Shanghai SE Composite closed at 2,783.29, up 36.68 points, or 1.34 per cent, while Shenzhen SE Component Index ended up at 10,089.67, rising 310.00 points, or 3.17 per cent.

Hong Kong’s Hang Seng Index closed at 26,675.98, up 319.00 points, or 1.21 per cent.

South Korea’s KOSPI Index closed at 2,157.90, up 39.02 points, or 1.84 per cent.

Taiwan’s TAIEX Index closed at 11,555.92, up 201 points, or 1.77 per cent.

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