SET Jumps 17pts at the Open, Analyst Suggests Domestic Plays on Sideways-Up Session

The Stocks Exchange of Thailand (SET) Index opened 16.93 points or 1.23% higher to 1,389.20 points with a trading value of 5.73 billion baht amid fluctuations in the regional markets.

 

Finansia Syrus Securities advised domestic-plays strategy and expected a sideways-up trends for SET Index within 1,360-1,385 points from yesterday’s gain in the regional markets, coupled with the rising of U.S. June ISM non-manufacturing index to 57.1, increased from 45.4% in May, after the reopening economy which raised hopes for a recovery in the U.S. economy. Currently, investors are looking pass the coronavirus infections which records almost 200,000 a day.

 

As of 10:05 local time in Thailand (GMT+7), Nikkei dropped 0.56%, SSEC increased 0.74%, HSI slipped 0.49%, ASX 200 gained 0.10% and Kospi dipped 0.29%. Stocks in regional markets were fluctuating after a huge gain from yesterday’s session on positive Chinese and U.S. economic data.