SET Jumps 7pts at the Opening Following Asia Markets as Covid-19 Weighs on Sentiment

SET on Wednesday opened at 1,364.08 points, jumping 7.65 points or 0.56% with a trading value of 2.18 billion baht.

 

Asia Wealth Securities (AWS) expects SET to fluctuate in a sideway manner without any new positive factors supporting the short-term investment. The only thing that is worth considering is the MPC meeting today. The interesting thing is the direction of interest rates for the rest of 2020.

 

Meanwhile, stocks in Asia mostly traded higher in the morning session on Wednesday, June 24, 2020, as the Covid-19 situation in the U.S. begins to see a “disturbing surge” of inflection cases in some states.

 

As of 10:41 local time in Thailand (GMT+7), Nikkei rose 0.12%, HSI surged 0.10%, Kospi jumped 1.61%, ASX 200 soard 0.14%, while SSEC hiked 0.25%.

 

Overnight, Dow Jones edged higher to close at 26,156.10, a 131.14 points surge or 0.50%, S&P 500 closed 0.40% higher at 3,131.29 and Nasdaq rose 0.7% to a fresh record of 10,131.37.

 

The novel coronavirus still weighed significantly on market sentiment as Asia stocks were fluctuating in the morning session.

 

The White House health advisor, Dr. Anthony Fauci said Tuesday he is “quite concerned” about the rise in coronavirus cases in states that “reflect an increase in community spread.” He also said that however, that states with growing coronavirus outbreaks may not need to do an “absolute shutdown.” and expected a vaccine will be ready by early next year.