Institutions Fend the ฿2.4Bn Selloff, Buoying SET by 10pts in Hopes of Covid-19 Vaccine

Institutions Fend the ฿2.4Bn Selloff, Buoying SET by 10pts in Hopes of Covid-19 Vaccine.

SET Index closed at 1,346.69 points, increased 9.85 points or 0.74% with a trading value of 77.8 billion baht. The analyst stated that the Thai stock market closed higher in today’s session, in line with other regional markets in hopes of the development of a coronavirus vaccine that could be earlier than the market expected, resulting in a switch from safe assets to risk assets.

Moreover, the Thai government also planned to ease restrictions for traveling along with relief packages, causing stocks related to travel industries such as MINT, CENTEL and AOT to drive the market.

The analyst estimated that tomorrow’s session could fluctuate after the market had been digesting the positive factor from the coronavirus vaccine for two days, expecting the index to move between 1,340-1,360 points.

– Local Institutions buoyed SET nearly 10 points with a 2.4 billion baht of net buy in response to coronavirus vaccine hopes.

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