Foreign Investors Pull Back on Thai Stocks with a ฿10.4Bn Selloff to Plunge SET by 34pts
The total value of buying and selling separated by the investor's type as of May 5, 2021.
– SET Index closed at 1,549.22 points, decreased 33.91 points or 2.14% with a trading value of 127 billion baht. The analyst stated that a sharp plunge in the Thai stock market was due to concerns over the Covid-19 situation in Thailand that could suppress the economic recovery, resulting in a selloff in big-cap stocks, especially the banking sector, tourism and retail.
The analyst expected the stimulus plan to keep the overall outlook stable, but the economy would have a slow recovery, coupled with a possibility for a revised down GDP growth.
In addition, the analyst advised to keep monitoring the Covid-19 situation in Thailand, expecting the stock market to rebound and gave a support level at 1,530 points and a resistance level at 1,560 points.
– A selloff over 10.4 billion baht from foreign investors plunged SET Index by 34 points amid concerns over Covid-19 situation in Thailand.
