SET gets a lift from RCEP pact and Q3 economic data #SootinClaimon.Com

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET gets a lift from RCEP pact and Q3 economic data

EconNov 16. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 16.51 points, or 1.23 per cent, to 1,362.98 in the morning session on Monday.

An analyst at Krungsri Securities expected the day’s index to rise to between 1,355 and 1,360 points in response to Thailand signing the Regional Comprehensive Economic Partnership (RCEP) agreement and the rise in regional stock indices.

The SET recently gained positive sentiment from the Office of the National Economic and Social Development Council (NESDC) revealing that Thailand’s third-quarter (Q3) gross domestic product (GDP) contracted 6.4 per cent, while the country’s first nine months GDP contracted 6.7 per cent.

The NESDC expected the country’s GDP to contract 6.7 per cent this year and grow 3.5 per cent to 4.5 per cent next year from government disbursement. The baht appreciated to 30.16 against the dollar.

“However, investors should beware of market volatility from uncertainty over the escalating Covid-19 outbreak and domestic political unrest,” he said, adding that pro-democracy protesters will hold an anti-government rally again this week.

He recommended that investors buy:

▪︎ KTC, AMANAH and THANI as Government Savings Bank will conclude partners to work on car registration loans this week.

▪︎ AMATA, WHA, SAT, AH, STGT, STA and RCL that benefit from the RCEP agreement.

The SET Index closed at 1,346.47 on Friday, up 10.16 points or 0.76 per cent. Total transactions amounted to Bt97.02 billion with an index high of 1,352.51 and a low of 1,327.73.

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