SET dives below 1,300 after 18-point fall

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The Stock Exchange of Thailand (SET) Index closed at 1,293.80 on Tuesday, down 18.15 points or 1.38 per cent.

Total transactions amounted to Bt45.365 billion with an index high of 1,305.85 and a low of 1,293.33.

In the morning session, Krungsri Securities analysts predicted the SET would fall to 1,300 points due to investors’ concerns over escalation of the US-China trade war after Washington banned Chinese microchip giant SMIC. The stock market would also face pressure from the crude oil price falling to below $40 per barrel for the first time in two months, they added. Oil is being driven down by the sluggish economic recovery and strengthening dollar.

The 10 stocks with the highest trade value today were AOT, CPF, CPALL, PTT, SCM, STGT, KBANK, SCC, MINT and BAM.

As of 5pm, the price of oil dropped by US$1.48 or 3.72 per cent to $38.29 per barrel, while gold dropped by $8.60 or 0.44 per cent, to $1,925.70 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 23,274.13, up 184.18 points or 0.80 per cent.

China’s Shang Hai SE Composite Index closed at 3,316.42, up 23.83 points or 0.72 per cent, while the Shenzhen SE Component Index closed at 13,293.33, up 9.30 points or 0.070 per cent.

Hong Kong’s Hang Seng Index closed at 24,624.34, up 34.69 points or 0.14 per cent.

South Korea’s KOSPI Index closed at 2,401.91, up 17.69 points or 0.74 per cent.

Taiwan’s TAIEX Index closed at 12,663.56, up 62.16 points or 0.49 per cent.

https://www.nationthailand.com/news/30394193

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