Market Watch: SET to rebound from government measures

The Stock Exchange of Thailand (SET) is on the rebound along with other Asian bourses as the US Federal Reserve announced unprecedented measures to buy as much government-backed debt as needed.

Most Asian exchanges traded up by 2-6 per cent on Tuesday morning following the Fed’s surprise move. The move led to the depreciation of the US dollar and increasing oil prices, which should support energy shares within the SET. 

At the same time, the US is also anticipating another relief package worth around US$2 trillion, which is being debated in the US Senate.

Domestically, the cabinet meeting will be the main focal point on Tuesday as the Thai government is expecting to come up with more relief measures. There are now also talks of an emergency decree and a curfew. 

CGS-CIMB Securities expect the SET to be trading in the range of 1000-1070. The index already traded up by 30.41 points, or 2.97 per cent, to 1054.87 from the opening of 1024.46. Kasikorn Securities also expects the SET to rebound in the range of 950-1100.  

Advertisement -

COVID-19

One new coronavirus case discovered in Thailand

Thailand’s government said on Monday that it had discovered only one new coronavirus case in the past...
Advertisement -
Advertisement -

Latest article

The Business Sector and the ‘New Normal’

We are now almost halfway through 2020. Actually, it seems as if it were longer than that. As individuals, we may feel...

As the rainy season approaches, concerns rise over dengue fever and malaria

Dengue fever is back and has already taken 11 lives in Thailand, raising concerns that the incoming rainy season will bring even...

BOT concerned with the strengthening of the Thai baht

The Bank of Thailand (BOT) said on Monday that the central bank is worried about the rapid strengthening of the Thai baht...

Palang Pracharat dissolves executive council; triggers automatic leadership vote

Ruling Party Palang Pracharat announced on Monday that 18 members of its executive committee had resigned triggering a leadership vote within 45...

One new coronavirus case discovered in Thailand

Thailand’s government said on Monday that it had discovered only one new coronavirus case in the past 24 hours.