The stock market in the U.S. is being affected by various factors, including the trade wars the country is getting itself into. Investors looking for their next big buy should try to avoid investing heavily on U.S.-based stocks for now. If they want to see high returns, then they should try to expand their portfolio with stocks in Thailand’s progressively improving stock market.
According to Markets Insider, the Thai stock market is currently on a roll after inching higher in two straight sessions. In total, the market has received a 0.4 percent increase, equivalent to seven points, in the past measurement periods. Now, the Exchange of Thailand has stabilized at levels below 1,645, and it is expected to grow even further in the following weeks.
The Stock Exchange of Thailand (SET) index picked up 2.59 points for a 0.16 percent increase last Sunday, reaching 1,643.52. During that day, SET was trading between 1,639.49 and 1,649.66, with the volumes ranging from 10.420 billion shares worth 37.635 billion baht. In total, 668 stocks have increased, 470 have dropped, and 518 stocks were stable at their position.
The gainers last Sunday were Thailand Airport (0.39 percent), Siam Commercial Bank (0.40 percent), Krung Thai Bank (0.57 percent), Bangkok Medical (0.97 percent) and PTT Exploration and Production (1.12 percent). The biggest gainer was Charoen Pokphand Foods with 2.94 percent. Moving towards the negative side are Banpu at 1.93 percent, Beauty Community at 1.85 percent, Kasikornbank at 0.26 percent, and PTT Global Chemical by 1.61 percent.
Amidst the decent positive movement in the SET, investors are apparently pulling out funds from various stocks, says Bloomberg. Just last week, more than $6 billion was pulled off by foreign investors in Thai stocks, but SET President Pakorn Peetathawatchai said that it should not be a worry.
Peetathawatchai said last Thursday at the Asian Business Summit that the sound economic fundamentals and corporate-earnings growth of Thailand will allow it to attract domestic investors. The incoming investments will be enough to make up for the massive foreign withdrawal.
Although the Thai stock market is showing positive movement once again, investors shouldn’t forget the fact that it experienced a dip last week. Experts claimed then that losses might continue to pour, but the good thing is that it has since recovered. As with most Asian markets, the SET is affected by the trade war concerns and the slipping price of crude oil.
The win streak the Thai stock market is going through could prove to be quite the opportunity for investors. However, they should still be cautious with adding new stocks to their portfolios as Thailand’s win streak could come to an abrupt end anytime soon, considering how it already suffered losses last week. The key factor that would affect the SET is the trade war between various countries, so investors should keep an eye on that as well.
Why is the stock market up?
A global pandemic. The President impeached. Raging wildfires across the west coast. Riots throughout major cities. The Olympics cancelled. The...
The biotech sector in Bavaria has strongly developed over the last years
Bavaria has been able to establish itself as a location for biotechnology and innovation in recent decades. However, at an...
How the coronavirus pandemic impacted the German Fintech sector
The coronavirus pandemic has clearly affected the Fintech sector in Germany. However, some of the companies that are currently struggling,...
What’s the problem with the Dow Jones? Maybe it’s overvalued
So far, the Dow Jones has yet to exceed the high of its current advance on August 3rd. Who knows...
Fruitbox Africa: Frankfurt investor and Siemens to create jobs in Ethiopia
The Frankfurt investor Lutz Hartmann and the technology giant Siemens want to invest in Ethiopia. Creating jobs, training young people,...
Featured5 days ago
Qonto registered over €900 million value of transactions on Italian current accounts
Cannabis6 days ago
Cannabis light company to sponsor Italian soccer league teams
Crypto6 days ago
Why are Ethereum fees higher than Bitcoin ones?
Business6 days ago
XRApplied sitting pretty on the precipice of the XR boom