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Thai stock market falls two days in a row despite US stimulus plan

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Thai stock market falls two days in a row despite US stimulus plan

By The Nation




The Stock Exchange of Thailand (SET) Index closed at 1,519.13 on Friday, down 16.85 points or 1.10 per cent. Total transactions amounted to Bt101.41 billion with an index high of 1,544.11 and a low of 1,513.48. The SET was down for a second successive day, after dropping 0.73 per cent on Thursday.



In Friday’s morning session, an analyst at Krungsri Securities forecast the day's index would fluctuate between 1,525 and 1,550 after US President-elect Joe Biden announced a US$1.9-trillion stimulus plan and the oil price held up.


"However, the SET will be under pressure from its tight valuation and the drop in fund inflows," he said, adding that the index's price-to-earnings ratio was 30 times.


The 10 stocks with the highest trade value today were PTT, EA, GPSC, TASCO, CPALL, SCGP, PTTEP, NER, KBANK and KTC.


As of 4.30pm, the price of oil dropped by US$0.49 or 0.91 per cent to $53.08 per barrel, while gold was unchanged at $1,851.40 per ounce.


Other Asian indices were mixed:


Japan’s Nikkei Index closed at 28,519.18, down 179.08 points or 0.62 per cent.


China’s Shang Hai SE Composite Index closed at 3,566.38, up 0.47 points or 0.013 per cent, while Shenzhen SE Component Index closed at 15,031.70, down 38.43 points or 0.25 per cent.

Hong Kong's Hang Seng Index closed at 28,573.86, up 77.00 points or 0.27 per cent.


South Korea's KOSPI Index closed at 3,085.90, down 64.03 points or 2.03 per cent.


Taiwan's TAIEX Index closed at 15,616.39, down 90.80 points or 0.58 per cent.


Source: https://www.nationthailand.com/business/30401305



-- © Copyright The Nation Thailand 2021-01-16
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Rubber, rice and some electrical are not going to sustain this economy.

They want to get away from being be a tourism reliant country,  but they are who they are.

It will probably be dead/depreciating markets until tourism racks up which is going to be 2022 now at least.



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