SET dips again due to lack of new upbeat factors

By rooster59
August 7, 2020 in Jobs, Economy, Banking, Business, Investments

https://aseannow.com/topic/1176734-set-dips-again-due-to-lack-of-new-upbeat-factors/

SET dips again due to lack of new upbeat factors

By The Nation

The Stock Exchange of Thailand (SET) Index fell for a second day today (August 7) closing at 1,324.40, down 8.82 points or 0.66 per cent. Total transactions stood at Bt44.367 billion with an index high of 1,333.21 and a low of 1,321.16.

During the morning session, a stock analyst at Krungsri Securities said he expected the index to fluctuate between 1,325 and 1,340 due to the lack of new positive sentiment to boost investment.

“The market had initially been positive about ongoing progress in the $1-trillion US economic stimulus package, an agreement for which is expected to be reached soon, and from the price of crude oil rising to more than $41 per barrel,” he said.

“However, mass sell-offs after listed companies announce their second-quarter performance will pressure the index.”

The top 10 stocks with the highest trade value today were PTT, ADVANC, AOT, PTTEP, STGT, STA, CPALL, CPF, GPSC and PTTGC.

As of 4.30pm, the price of crude oil dropped by US$0.37 or 0.88 per cent to $41.58 per barrel, while gold rose by $0.80 or 0.04 per cent, to $2,070.20 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 22,329.94, down 88.21 points, or 0.39 per cent.

China’s Shanghai SE Composite Index closed at 3,354.04, down 32.43 points, or 0.96 per cent, while Shenzhen SE Component Index closed at 13,648.50, down 214.63 points, or 1.55 per cent.

Hong Kong’s Hang Seng Index closed at 24,531.62, down 398.96 points, or 1.60 per cent.

South Korea’s KOSPI Index closed at 2,351.67, up 9.06 points, or 0.39 per cent.

Taiwan’s TAIEX Index closed at 12,828.87, down 84.63 points, or 0.66 per cent.

Source: https://www.nationthailand.com/business/30392620