SET Posts a Gap of 24.51pts Ups and Downs within 10 Minutes after the Opening Bell!
SET Posts a Gap of 24.51pts Ups and Downs within 10 Minutes after the Opening Bell!
SET Posts a Gap of 24.51pts Ups and Downs within 10 Minutes after the Opening Bell!
17 มี.ค. 2563

The Stock Exchange of Thailand (SET) Index rose to 1,061.73 points, increased 15.65 points and then suddenly plunged to 1,037.22 points, decreased 8.86 points from yesterday’s closing. The jumping and plunging with a gap as wide as 24.51 points was within the first 10 minutes of the trading session on Tuesday.
 
The analyst from KGI securities stated that following a worse than expected pullback yesterday, the SET Index could post more loss on Tuesday tracking continued global jitters on the Covid-19 pandemic and overnight crash in US stock markets. The S&amp;P500 Index tumbled about 12%, in a relatively clear sign that investors do not see ultra-loosening monetary policies as a cure to the virus impact.
Donald Trump also held a press conference, guiding that the Covid-19 infection could stay until July or August, a relatively long timeline and posing more downside risk to the US economy.
In Thailand, more infectious cases were reported, which could lead to the cabinet today unveiling more measures to curb social gatherings and to postpone the Songkran festival. As KGI has mentioned, KGI has two scenarios for the SET Index downside; a base case at earnings yield gap 7% that implies the index at 1,000pts and a worst case equating the yield gap to 2008 crisis time of 8% or the SET Index at 880pts.