Foreign Investors Pull Back on Thai Stocks with a ฿10.4Bn Selloff to Plunge SET by 34pts
The total value of buying and selling separated by the investor's type as of May 5, 2021.
The total value of buying and selling separated by the investor's type as of May 5, 2021.
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– SET Index closed at 1,549.22 points, decreased 33.91 points or 2.14% with a trading value of 127 billion baht. The analyst stated that a sharp plunge in the Thai stock market was due to concerns over the Covid-19 situation in Thailand that could suppress the economic recovery, resulting in a selloff in big-cap stocks, especially the banking sector, tourism and retail.
The analyst expected the stimulus plan to keep the overall outlook stable, but the economy would have a slow recovery, coupled with a possibility for a revised down GDP growth.
In addition, the analyst advised to keep monitoring the Covid-19 situation in Thailand, expecting the stock market to rebound and gave a support level at 1,530 points and a resistance level at 1,560 points.
– A selloff over 10.4 billion baht from foreign investors plunged SET Index by 34 points amid concerns over Covid-19 situation in Thailand.
 
 