SET Index set to open lower in the afternoon’s session on Friday, May 22, 2020, following a plummet in the regional market in the morning on the escalated tension between the U.S. and China.
Yesterday, the U.S. senate approved the Holding Foreign Companies Accountable Act, which could pose difficulties for Chinese companies listed in the U.S. stock market as the U.S. President claimed that these Chinese companies used legal loopholes for frauds.
Meanwhile, news was escalated that China is expecting to impose a new national security law on Hong Kong. Economists warned that it could cause another protest which had been halted due to the coronavirus outbreak. HSI dropped more than 5% in the morning session.
SET Index closed the morning session at 1,293.98 points, fell 26.71 points or 2.02% with a trading value of 33.4 billion baht.