SET Soars 17pts as Analysts Expect Biden’s Win to Reflect Positively on Stock Markets!

The Thai stock market jumped 16.90 points on Thursday as investors awaited the results of the 2020 U.S. election when Biden is at the brink of sitting in the Oval Office in the White House.

 

SET Index rose 16.90 points or 1.38% to 1,239.34 points with a trading value of 16.7 billion baht in almost three quarters after the opening bell.

Finansia Syrus Securities (FSS) expected SET Index to fluctuate within 1,215-1,233 points and advised investors to monitor the U.S. election. FSS had positive views on Asia stock markets if the Democrat’s Joe Biden wins. Meanwhile, Biden leads Trump in key states and just a few steps away from becoming the 46th president of the U.S.

Krungsri Securities (KSS) expected SET to move to 1,230 points before slowing down, while expecting Joe Biden to win the election and the win would reflect positively to trade relations, along with a major economic stimulus bill as well as a spike in oil prices.