– SET Index closed at 1,500.51 points, decreased 10.52 points or 0.70% with a trading value of 90.5 billion baht. The analyst stated that the decline in the Thai stock market was a rebasing after US bond yield continued to edge higher and could cause high inflation rate and would result in an interest rate up.
Nevertheless, the analyst had a positive outlook on the Thai stock market after gaining its foot above 1,500 points, which would be a strong base.
The analyst expected SET Index to move in sideway trends at the end of next week due to the MSCI rebalance that Thailand has been weighted down, giving a support level at 1,480 points and a resistance level at 1,530 points.
– Foreign Investors and Local Institutions continued to pressure SET Index with a net sell of 5.1 billion baht to plunge the index by 10.52 points.