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.