SET flat despite signs of US recovery

[rooster59]

SET flat despite signs of US recovery

By The Nation

 

 

The Stock Exchange of Thailand (SET) Index closed at 1,372.27 today (July 3), down 1.86 points or 0.14 per cent. Total transaction volume was Bt71.138 billion with an index high of 1,380.08 and a low of 1,370.37.

 

 

In the morning session, a stock analyst at Krungsri Securities expected the index to rise to between 1,385 and 1,390 on hopes of a US economic recovery after the US June non-farm payrolls rose by 4.8 million jobs and the June unemployment rate dropped to 11.1 per cent.

 

“The market was also buoyed by the rising crude oil price after Opec-plus cut June’s daily crude oil exports by 1.84 million barrels to 17.2 million barrels,” the analyst said.

 

The analyst cautioned investors to beware of mass sell-offs amid uncertainty over a second wave of Covid-19 in the US, and the tight SET valuation with the index’s price to earnings ratio standing at 19.5.

 

The 10 stocks with the highest trade value today were STGT, STA, GULF, SUPER, PTT, KBANK, MINT, AOT, EA, and BGRIM.

 

As of 4.30pm, the price of crude oil had dropped by US$0.53 or 1.30 per cent to $40.12 per barrel, while the gold price dropped by $4.30 or 0.24 per cent, to $1,785.70 per ounce.

 

Changes in other Asian indices were as follows:

 

Japan’s Nikkei Index closed at 22,306.48, up 160.52 points, or 0.72 per cent.

 

China’s Shang Hai SE Composite Index closed at 3,152.81, up 62.24 points, or 2.01 per cent, while the Shenzhen SE Component Index closed at 12,433.26, up 163.78 points, or 1.33 per cent.

 

Hong Kong’s Hang Seng Index closed at 25,373.12, up 248.93 points, or 0.99 per cent.

 

South Korea’s KOSPI Index closed at 2,152.41, up 17.04 points, or 0.80 per cent.

 

Taiwan’s TAIEX Index closed at 11,909.16, up 104.02 points, or 0.88 per cent.

 

Source: https://www.nationthailand.com/business/30390753

 

-- © Copyright The Nation Thailand 2020-07-04

 

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[RichardColeman]

7 hours ago, rooster59 said:

Hong Kong’s Hang Seng Index closed at 25,373.12, up 248.93 points, or 0.99 per cent.

I imagine this Index could be wiped from history soon