Saturday, July 24, 2021


SET flat as US interest rate signal triggers outflows

The Stock Exchange of Thailand (SET) Index closed at 1,612.98 on Friday, down 4.67 points or 0.29 per cent. Transactions totalled THB110.18 billion with an index high of 1,622.43 and a low of 1,604.44.

In the morning session, Krungsri Securities forecast Friday’s SET Index would fall to a level between 1,605-1,610 points after the US Federal Reserve announced it had begun discussions on asset tapering and expected two interest rate hikes by the end of 2023 to curb rising inflation.

This signal had led to strengthening of the dollar, falling oil and gold prices and outflow of foreign funds, said Krungsri.

However, the index would be buoyed by mass buy-ups of shares gaining positive sentiment from Thailand's reopening, and those to be listed on the FTSE Index, would help boost the index, it added.

Phuket is scheduled to reopen to foreign tourists on July 1, followed by the rest of the country by October.

The 10 stocks with the highest trade value today were GUNKUL, SCGP, PTT, OR, KBANK, AOT, CPALL, SCB, IVL and PTTEP.

Other Asian indices were mixed:

Japan's Nikkei Index closed at 28,964.08, down 54.25 points or 0.19 per cent.

China's Shanghai SE Composite Index closed at 3,525.10, down 0.51 points or 0.014 per cent, while the Shenzhen SE Component Index closed at 14,583.67, up 111.30 points or 0.77 per cent.

Hong Kong's Hang Seng Index closed at 28,801.27, up 242.68 points or 0.85 per cent.

South Korea's KOSPI closed at 3,267.93, up 2.97 points or 0.091 per cent.

Taiwan's TAIEX closed at 17,318.54, down 72.07 points or 0.41 per cent.

Published : June 18, 2021

By : The Nation