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6 Nov 2020

Financial Markets

The Baht hit a 9-month high while the SET rose on hopes that Joe Biden will win the US presidential election


          The SET soared in line with other stock markets, ending at 1,260.08 points, up 5.45% over-week. The average daily trading value was THB59,031.08 million, up 20.00% over-week. The mai closed at 316.55 points, up 2.26% over-week.

            ​​The SET rose gradually from the beginning of the week, supported by signs of expansion in the manufacturing sectors of the US, Eurozone and China during October. The SET was also supported by the US presidential election results around midweek, showing that Joe Biden may win the election. However, the SET pared gains somewhat at the end of the week, because investors were concerned about chaos regarding the US election (as President Donald Trump threatened to file lawsuits against vote counts in some states), as well as domestic political issues.

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Financial Markets