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SET maintains surge as US Fed moves on bonds, hope for stimulus strengthens (nationthailand.com)

SET maintains surge as US Fed moves on bonds, hope for stimulus strengthens

EconDec 17. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,483.89 on Thursday, up 1.80 points or 0.12 per cent. The volume of total transactions was Bt112.75 billion with an index high of 1,495.37 and a low of 1,483.32.

In the morning session, an analyst at Krungsri Securities said he expected the day’s index to fluctuate between 1,475 and 1,490 points amid positive sentiment following the US Federal Reserve’s move to maintain bond purchases and hopes of a fresh economic stimulus package worth $900 billion (Bt26.9 trillion).

“However, investors should beware of mass sell-offs of shares due to the index’s tight valuation at 29 times the price-to-earnings ratio,” he said.

The top 10 stocks with the highest trade value today were TMB, KBANK, SCGP, CPALL, DELTA, BANPU, AOT, ADVANC, PTTGC and PTT.

As of 4.30pm, the price of oil rose by US$0.56 or 1.17 per cent to $48.38 per barrel, while gold rose by $20.60 or 1.11 per cent, to $1,879.70 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 26,806.67, up 49.27 points or 0.18 per cent.

China’s Shanghai SE Composite Index closed at 3,404.87, up 37.89 points or 1.13 per cent, while Shenzhen SE Component Index closed at 13,889.87, up 138.78 points or 1.01 per cent.

Hong Kong’s Hang Seng Index closed at 26,678.38, up 218.09 points or 0.82 per cent.

South Korea’s KOSPI Index closed at 2,770.43, down 1.36 points or 0.049 per cent.

Taiwan’s TAIEX Index closed at 14,258.93, down 45.53 points or 0.32 per cent.

Singapore’s Straits Times Index closed at 2,858.80, down 14 points or 0.49 per cent.

Vietnam’s Ho Chi Minh Stock Index closed at 1,051.77, down 15.22 points or 1.43 per cent.