Friday, September 25, 2020

SET down 1.45% despite news of EU rescue package

Jul 22. 2020
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By THE NATION

The Stock Exchange of Thailand (SET) Index closed today (July 22) at 1,357.04, down 19.96 points or 1.45 per cent.

Total transactions amounted to Bt63.863 billion with an index high of 1,382.29 and a low of 1,356.86.

In the morning session, a stock analyst at Krungsri Securities analyst expected the index to move between 1,385 and 1,390 points today, buoyed by the announcement of an EU economic recovery package worth €750-billion (Bt27.2 trillion).

The analyst added that the market was also supported by healthy performances of energy and petrochemical businesses.

However, the analyst forecast the SET could fall if companies announced falls in turnover over the second quarter of 2020. Also pressuring stock prices was investors’ concern of a second wave of Covid-19 infections in the US.

The 10 stocks with the highest trade value today were STA, BBL, CPF, PTT, PTL, STGT, MINT, BAM, PTTGC and PTTEP.

As of 5pm, the price of crude oil had dropped by US$0.42 or 1per cent to $41.50 per barrel, while gold rose by $10.50 or 0.57 per cent, to $1,854.40 per ounce.

Changes in Asian indices were mixed:

Japan’s Nikkei Index closed at 22,751.61, down 132.61 points, or 0.58 per cent.

China’s Shang Hai SE Composite Index closed at 3,333.16, up 12.27 points, or 0.37% per cent, while the Shenzhen SE Component Index closed at 13,657.03 points, up 120.86, or 0.89 per cent.

Hong Kong’s Hang Seng Index closed at 25,057.94, down 577.72 points, or 2.25 per cent.

South Korea’s KOSPI Index closed at 2,228.66, down 0.17 points, or 0.0076 per cent.

Taiwan’s TAIEX Index closed at 12,473.27, up 75.72 points or 0.61 per cent.

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