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SET slumps over 1% due to US-China trade war, falling oil price, vaccine delay
EconSep 09. 2020
By The Nation
The Stock Exchange of Thailand (SET) Index fell by 15.89 points, or 1.23 per cent, to 1,277.91 in the morning session today (September 9).
An analyst at Krungsri Securities expected the index to fall between 1,275 and 1,280 points due to uncertainty amid the US-China trade war after US President Donald Trump proposed to decouple the US economy from China’s.
Meanwhile, a falling oil price and AstraZeneca’s delay in its third phase clinical trial of a Covid-19 vaccine will pressure the index, the analyst said.
He recommended that investors buy stocks whose third-quarter performance would improve, such as TU, Asian, Com7, CHG, PTG, PlanB, Tasco, EPG, PTG and SCC.
The Stock Exchange of Thailand (SET) Index closed at 1,293.80 yesterday (September 8), down 18.15 points, or 1.38 per cent. Total transactions amounted to Bt45.36 billion, with an index high of 1,305.85 points and a low of 1,293.33.
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