– SET Index closed at 1,481.75 points, decreased 4.50 points or 0.30% with a trading value of 79.4 billion baht. The analyst stated that the Thai stock market closed lower today in a disappointment of the MPC in maintaining policy rate as the market expected a rate cut to support the economic recovery. The committee also viewed the current outbreak to have lower impact compared to the first outbreak, which was in line with the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) also maintained their GDP forecast, indicating private sectors did not see much impact from the current outbreak. Thus, a stimulus measure might not be necessary, resulting in a selloff in the market.
However, according to PLC and JSCCIB perspectives, the economy in March should recover if there are no other negative factors.
The analyst recommended investors to continue monitoring listed companies 4Q20 earnings announcement, giving a movement range for tomorrow’s session between 1,475-1,500 points.
– Foreign Investors hammered Thai stock by 4.50 points with a 3.1 billion baht of net sell.