Tuesday, September 29, 2020

SET loses ground amid global recession, US deadlock

Aug 03. 2020
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By THE NATION

The Stock Exchange of Thailand (SET) Index closed at 1,321.23 today (August 3), down 7.30 points or 0.55 per cent. Total transactions amounted to Bt54.716 billion with an index high of 1,325.31 and a low of 1,311.25.

In the morning session, a Krungsri Securities stock analyst expected the SET to move between 1,320 and 1,340, since there were no new factors to stimulate investment despite investors buying stocks of companies whose second-quarter turnover is expected to grow.

"The index this week will be pressured by the global economic recession as well as the US deadlock in passing remedial measures, after Congress failed to agree on paying $600 a week to jobless people," the analyst said.

The 10 stocks with the highest trade value today were AOT, KBANK, STGT, CBG, DELTA, CPALL, PTT, PTL, PTTEP, KCE.

As of 4.40pm, the price of crude oil fell by US$0.50 or 1.24 per cent to $39.77 per barrel, while gold rose by $5.5 or 0.28 per cent, to $1,991.40 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 22,195.38, up 485.38 points or 2.24 per cent.

China’s Shang Hai SE Composite Index closed at 3,367.97, up 57.96 points or 1.75 per cent, while the Shenzhen SE Component Index closed at 13,964.56, up 326.68 points 2.40 per cent.

Hong Kong’s Hang Seng Index closed at 24,458.13, down 137.22 points or 0.56 per cent.

South Korea’s KOSPI Index closed at 2,251.04, up 1.67 or 0.074 per cent.

Taiwan’s TAIEX Index closed at 12,513.03, down 151.77 or 1.20 per cent.

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