A ฿2.1Bn Profit-Taking from Institutions Plunges SET Index by 6pts
The total value of buying and selling separated by the investor's type as of August 17, 2020.
– SET Index closed at 1,320.91 points, decreased 6.14 points or 0.46% with a trading value of 47.8 billion baht. The analyst stated that the Thai stock market faced a profit-taking session after the end of 2Q earnings session, in which the overall earnings were down 45% YoY, but up 23% QoQ due to the impact of the coronavirus outbreak that could stretch to the third quarter as well, coupled with the recent announcement of Thai GDP that contracted 12.2% YoY.
The analyst reiterated that the Thai stock market is rebasing and without a positive and a rise from foreign stock markets. Tomorrow’s support level is 1,310 points and a resistance level is 1,330 points.
– Local Institutions poured 2.1 billion baht, dropping SET Index by 6 points.
