SET Jumps 23pts in Response to Economic Recovery amid Fluctuation in Regional Markets

SET Index soared at the open by 22.98 points or 1.67% to 1,397.16 points, higher than major regional indices as investors remained optimistic on the economic recovery from the coronavirus outbreak.

 

As of 10:10 local time in Thailand (GMT+7), Nikkei rose 0.08%, SSEC dipped 0.25%, HSI lost 0.29%, ASX 200 increased 0.50% and Kospi fell 0.08%.

 

Finansia Syrus expected the index to reach 1,390-1,400 points today from the gradual fund inflow as the market believed the worse had passed.

Krungsri Securities had a positive view for SET Index on today’s trading session, expecting to reach 1,390-1,400 points as the market expected the economic recession to bottom out after the pandemic outbreak, while the market is being optimistic on the easing lockdown and stimulus plan.

KTB Securities (Thailand) gave a strategic investment plan to focusing on banking, energy, petrochem sectors or any big cap stocks, while expecting the SET Index to reach 1,400 points by next week if there is no negative sentiment to weigh on the market.

 

Overnight, Dow Jones surged 527.24 points or 2.05% to settle at 26,269.89 points. S&P 500 rose 1.4% and Nasdaq hiked 0.8%. A gain in Wall Street came after a report from Automatic Data Processing (ADP) on Wednesday, which showed a fall of 2.76 million of private payrolls stateside in May, better than the 8.75 million forecasted from economists.