FRIDAY, March 29, 2024
nationthailand

Thai stocks up despite local Covid surge, US rate uncertainty

Thai stocks up despite local Covid surge, US rate uncertainty

The Stock Exchange of Thailand (SET) Index closed at 1,588.15 on Monday, up 3.12 points or 0.20 per cent. Total transactions amounted to THB111.86 billion with an index high of 1,596.80 and a low of 1,576.79.

In the morning session, Krungsri Securities forecast that the SET Index would fluctuate between 1,590 and 1,600 points amid uncertainty over the US interest rate. The chance of the US Federal Reserve hiking the interest rate was lowered by a smaller-than-expected increase in the US non-farm payroll, while the country's unemployment rate rose to 6.1 per cent.

Krungsri added that energy and petrochemical stocks gained positive sentiment after the oil price rose to over $65 per barrel.

"However, investors should beware of mass sell-offs due to uncertainty over Thailand's high number of Covid-19 cases," Krungsri Securities said.

The 10 stocks with the highest trade value today were TIDLOR, DELTA, KBANK, TU, OR, PTT, SAWAD, TTA, SCGP and SCC.

Other Asian indices were mixed:

Japan's Nikkei Index closed at 29,518.34, up 160.52 points or 0.55 per cent.

China's Shanghai SE Composite Index closed at 3,427.99, up 9.12 points or 0.27 per cent, while the Shenzhen SE Component Index closed at 13,917.97, down 15.84 points or 0.11 per cent.

Hong Kong's Hang Seng Index closed at 28,595.66, down 14.99 points or 0.052 per cent.

South Korea's KOSPI closed at 3,249.30, up 52.10 points or 1.63 per cent.

Taiwan's TAIEX Index closed at 17,235.61, down 49.39 points or 0.29 per cent.

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