SET Faces Fluctuations in the Market as Investors Weigh on 2nd Wave and Economic Recovery
SET Faces Large Fluctuations as Investors Weigh on 2nd Wave and Economic Recovery.
SET Faces Large Fluctuations as Investors Weigh on 2nd Wave and Economic Recovery.
17 มิ.ย. 2563

SET Index faced large fluctuations in the market, swinging between 1,358 and 1,368 points in the morning session, despite a high surge in Wall Street overnight.
 
As of 10:49 local time in Thailand (GMT+7), SET Index was at 1,366.11 points, decreased 1.02 points or 0.07% with a trading value of 17.6 billion baht. The highest level since the opening bell was 1,368.93 points, slightly higher than yesterday’s closing price, while the lowest was 1,358.27 points.
 
Finansia Syrus Securities (FSS) expected SET Index to swing sideways between 1,355-1,380 points as the market still had a positive view on faster-than-expected recovery in the economy after the U.S. retail sales for May rose 17.7% M-M, which was better than expected. Meanwhile, U.S. President Donald Trump also planned to invest US$1 trillion in infrastructure. FSS stated that the negativity in the market bottomed out in May, but the recovery to pre-crisis level would take time and still has a lot of risks.
 
The International Monetary Fund (IMF) on Tuesday warned that the global economy is on track for a more significant contraction than its forecast in April.
“For the first time since the Great Depression, both advanced and emerging market economies will be in recession in 2020. The forthcoming June World Economic Outlook Update is likely to show negative growth rates even worse than previously estimated,” wrote IMF’s chief economist Gita Gopinath.
In April, the IMF forecasted a 3% contraction in the global economy in 2020, but the view changed, despite the reopening economy.
 