SET Jumps 16pts as Tourism Stocks Lift the Market Higher!

SET Index gained 16.14 points or 1.24% to 1,315.40 points as of 15:45 local time in Thailand on Monday, outperforming most of the major stock markets in the region as the market tried to bounce back from a plummet last week.

 

Last week, the Fed’s statement that forecasted a prolonged effect of coronavirus on the U.S. economy. Meanwhile, the escalated political issues in Thailand also put more weight on investors after the pro-democratic leaders were arrested.

 

Stocks related to tourism lifted SET Index higher in the afternoon as MINT gained 6.37%, AOT increased 4.17%, ERW rose 3.14% and CENTEL advanced 2.91%. Krungsri Securities stated that investors had positive sentiment on the coronavirus vaccine. Meanwhile, investors are anticipated on the stimulus plans for tourism, which is expected to be announced tomorrow after the cabinet meeting.

Analysts advised investors to monitor the Fed’s statement on 27-28 August 2020 to see the economic outlook.