SET Extends the Gain by 50pts in Afternoon Session as the Market Cheers on Covid Vaccine

SET Index continued to soar higher in the afternoon session, hiking 50.71 points or 3.94% to 1,336.59 points with a trading value of 108 billion baht as the market weighed on the potential of Covid vaccine by Pfizer and BioNTech that has 90% effectiveness, whereas experts said 50-60% would be acceptable.

 

The rally continued on Tuesday after a 25-point gain session yesterday in response to Joe Biden’s win in the presidential election on Saturday, followed by the announcement by Pfizer and BioNTech, saying that their coronavirus vaccine is more than 90% effective.

 

Edson Moreira, the coordinator of the trials in the South American country, said the trial results exceeded expectations with vaccinated volunteers showing a higher production of antibodies than people infected with COVID-19.

Last night, Dow Jones surged more than 1,600 points in a single session to make a new high at 29,933.83 points before slowing down to close the session with a 2.95% gain.