SET held up by second phase of easing restrictions, rising crude oil prices

Total transactions amounted to Bt67.672 billion with an index high of 1,322.22 and a low of 1,306.96.
A Krungsri Securities stock analyst said he expects the index to remain at between 1,300 and 1,320, adding that the market has gained positive sentiment from the second phase of easing of restrictions and the rising price of crude oil.
“Investors expect the demand for oil to recover after several countries have eased their lockdown measures,” the analyst said.
However, he added that the index would be under pressure now that it has been reported that the study of the new vaccine by the US pharmaceutical company Moderna did not yield enough critical data to prove its success.
“Investors will also be selling off their stocks as the index’s forward price-to-earnings ratio has risen by more than 17 times – the highest among emerging countries,” the analyst said.
The top 10 stocks with the highest trading values today were BAM, GPSC, BGRIM, ADVANC, MINT, SAWAD, PTT, WHA, BBL and KBANK.
As of 4.30pm, crude oil price had risen by US$0.15 or 0.47 per cent to $32.11 per barrel, while gold rose by $7.90 or 0.45 per cent to $1,753.50 per ounce.
US indices were on the rise, while Europe and Asian indices had a mixed day:
Japan’s Nikkei Index closed at 20,595.15, up 161.70 points, or 0.79 per cent.
China’s Shanghai SE Composite Index closed at 2,883.74, down 14.84 points, or 0.51 per cent, while Shenzhen SE Component Index closed at 10,948.48, down 104.37 points, or 0.94 per cent.
Hong Kong’s Hang Seng Index closed at 24,399.95, up 11.82 points, or 0.048 per cent.
South Korea’s KOSPI Index closed at 1,989.64, up 9.03 points, or 0.46 per cent.
Taiwan’s TAIEX Index closed at 10,907.80, up 47.36 points, or 0.44 per cent.