Dr. Pakorn Peetathawatchai, President of the Stock Exchange of Thailand (SET), has made a statement regarding the plummet in the stock market, which fell lower than 1,400 for the first time in five years mainly due to concerns over the outbreak of coronavirus.
Dr. Pakorn states that only sectors would be affected by the outbreak. When looking at a decline of 8.91% in SET Index, some business sectors such as Home & Office Products increased 2.35%, Electric Components edged 0.54% higher, Paper & Printing Materials grew 1.05%, Finance & Securities jumped 5.66%.
SET Index will recover after the situation gets better, judging by SET’s recovering performance in the past such as the flood in 2011, a bombing at Ratchaprasong (2 months recovery), SARS (1.5 months recovery), political mob (3 months recovery).
Moreover, if positive sentiment reflects on the market, Foreign Investors will return to invest in Thai market as Thai stocks are considered very interesting while being listed in MSCI as much as 40 securities.