SET edges up as Thailand readies for third round of lockdown easing

[rooster59]

SET edges up as Thailand readies for third round of lockdown easing

By The Nation

 

 

The Stock Exchange of Thailand (SET) Index closed at 1,342.85 today (May 29), up 5.34 points or 0.40 per cent. Total transaction volume was Bt96.186 billion with an index high of 1,342.88 and a low of 1,323.12.

 

 

The SET edged up ahead of the third-phase relaxation of lockdown measures from Monday (June 1), which will allow venues such as gyms and cinemas to reopen. Curfew hours will also be cut to 11pm to 3am, and foreigners will be allowed to enter Thailand on a case-by-case basis.

 

A Krungsri Securities stock analyst expected the index to fall to between 1,325 and 1,330 points before rebounding, due to uncertainty amid US-China tensions after Beijing passed new national-security legislation for Hong Kong.

 

“A renewal of the trade war might emerge as the US prepares to announce a new policy towards China today [Friday],” the analyst said. “Meanwhile, the index will also be under pressure from the tight SET valuation.”

 

However, the SET will rebound on expectation of the third phase of lockdown easing, while investors can speculate on stocks which have been added to the MSCI calculation.

 

The 10 stocks with the highest trade value today were BAM, BANPU, AWC, PTT, GULF, KTC, ADVANC, CPALL, MINT and KBANK.

 

As of 4.30pm, the price of crude oil dropped by US$1.30 or 3.86 per cent to $32.41 per barrel, while the gold price rose by $10.50 or 0.61 per cent, to $1,738.80 per ounce.

 

US and European indices were on a downward trend, while Asian indices had a mixed day.

 

Japan’s Nikkei Index closed at 21,877.89, down 38.42 points, or 0.18 per cent.

China’s Shang Hai SE Composite Index closed at 2,852.35, up 6.13 points, or 0.22 per cent, while Shenzhen SE Component Index closed at 10,746.08, up 92.58 points, or 0.87 per cent.

 

Hong Kong’s Hang Seng Index closed at 22,961.47, down 171.29 points, or 0.74 per cent.

 

South Korea’s KOSPI Index closed at 2,029.60, up 1.06 points, or 0.052 per cent.

 

Taiwan’s TAIEX Index closed at 10,942.16, down 2.03 points, or 0.019 per cent.

 

Source: https://www.nationthailand.com/business/30388743

 

-- © Copyright The Nation Thailand 2020-05-30

 

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[nobodysfriend]

My banker just told me that NOW is the right time to invest some money in an SET index fund .

What do you think about that ?

[how241]

12 hours ago, nobodysfriend said:

My banker just told me that NOW is the right time to invest some money in an SET index fund .

What do you think about that ?

It's always a gamble But the SET  hasn't recovered much and there is a good chance of it rising.  Good Luck.