SET drops by nearly 1% due to ongoing political unrest

By The Nation

 

 

The Stock Exchange of Thailand (SET) Index closed at 1,233.68 on Friday, down 9.28 points or 0.75 per cent. The volume of total transactions was Bt44 billion with an index high of 1,247.89 and a low of 1,226.95.

 

 

In the morning session, an analyst at Krungsri Securities said he expected the index to fall to between 1,230 and 1,235 owing to political unrest, which he reckoned would be prolonged.

 

"Also, many European countries' move to reimpose lockdown measures to prevent a second Covid-19 wave and the rise in US unemployment figures would pressure the market," he said.

 

The top 10 stocks with the highest trade value today were CPALL, PTT, KBANK, STA, STGT, TISCO, SCC, MINT, NER and HANA.

 

As of 4.30pm, the price of oil dropped by US$0.24 or 0.59 per cent to $40.72 per barrel, while gold rose by $5.50 or 0.29 per cent, to $1,914.40 per ounce.

 

Other Asian indices were mixed:

 

Japan’s Nikkei Index closed at 23,410.63, down 96.60 points or 0.41 per cent.

 

China’s Shanghai SE Composite Index closed at 3,336.36, up 4.18 points or 0.13 per cent, while Shenzhen SE Component Index closed at 13,532.73, down 92.16 points or 0.68 per cent.

 

Hong Kong's Hang Seng Index closed at 24,386.79, up 228.25 points or 0.94 per cent.

 

South Korea's KOSPI Index closed at 2,341.53, down 19.68 points or 0.83 per cent.

 

Taiwan's TAIEX Index closed at 12,750.37, down 77.45 points or 0.60 per cent.

 

Source: https://www.nationthailand.com/business/30396326

 

 

-- © Copyright The Nation Thailand 2020-10-17

 

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3 hours ago, rooster59 said:

owing to political unrest, which he reckoned would be prolonged.

I guess he's allowed to comment on the current situation!

And yet the Baht remains stratospherically high...

Of course, blame the demonstrators, not the incompetence of the government or the structural deficiencies of the Thai economy.

SET drops by nearly 1% does a random walk due to ongoing political unrest