SET lifted by rising oil price, second phase of lockdown easing

A Krungsri Securities’ stock analyst expected the index to rise to 1,290 points, as energy stocks gained positive sentiment from the rising crude oil price, before falling back.
“The price of crude oil rose more than US$30 per barrel due to increasing demand after several countries eased their lockdowns and Opec+ moved to cut oil production,” he noted.
“In addition, retail stocks gained positive sentiment after the Centre for Covid-19 Situation Administration approved the second phase of lockdown easing.”
The analyst said the index would fall due to concern of a renewed US-China trade war after Washington halted export of microchips to China’s Huawei, risking retaliation from Beijing.
“We advised investors to beware of mass sell-offs due to a drop in the first-quarter performance of corporates,” he added.
The 10 stocks with the highest trade value today were PTT, PTTEP, BANPU, BAM, CPALL, MINT, PTTGC, GULF, ADVANC, and GPSC.
As of 4.30pm, the price of crude oil rose by $1.67 or 5.67 per cent to $31.10 per barrel, while gold rose by $14.70 or 0.84 per cent, to $1,771 per ounce. 
Meanwhile, Asian indices had a mixed day: 
Japan’s Nikkei Index closed at 20,133.73, up 96.26 points, or 0.48 per cent. 
China’s Shang Hai SE Composite Index closed at 2,875.42, up 6.96 points, or 0.24 per cent, while the Shenzhen SE Component Index closed at 10,921.15, down 43.75 points, or 0.4 per cent. 
Hong Kong’s Hang Seng Index closed at 23,934.77, up 137.3 points, or 0.58 per cent. 
South Korea’s KOSPI Index closed at 1,937.11, up 9.83 points, or 0.51 per cent. 
Taiwan’s TAIEX Index closed at 10,740.55, down 74.37 points, or 0.69 per cent.